LTC/USD are traded at 201.95 and continue to move within the fall and the ascending channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $13,357,835,931 Moving averages indicate a short-term bearish trend for Litecoin. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of 194.55. Where can we expect a rebound again and continued growth in the Litecoin rate with a potential target above the level of 245.05.
Litecoin Forecast and LTC/USD Analysis March 17, 2021
In favor of the growth of the LTC/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option will be a fall in the value of the asset and a breakdown of the area of 185.05. This will indicate a breakdown of the support area and an acceleration in the fall of the cryptocurrency rate with a potential target below 155.05. With the breakdown of the resistance area and closing of quotations above the level of 219.55, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis March 17, 2021 suggests an attempt to correct and test the support area near the level of 194.55. Where can we expect a rebound and continued growth in LTC/USD to the area above the level of 245.05. An additional signal in favor of Litecoin rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 185.05 area. This will indicate a continued fall in the cryptocurrency with a target below 155.05.
