LTC/USD are trading at 264.74 and continue to move as part of the correction after a strong growth. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $18,248,172,717. Moving averages indicate a short-term bullish trend for Litecoin. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth 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 245.55. Where can we expect a rebound up again and continued growth in the Litecoin rate with a potential target above the level of 345.55.
Litecoin Forecast and LTC/USD Analysis November 12, 2021
An additional signal in favor of raising the LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 195.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 165.05. With the breakdown of the resistance area and closing of quotations above the level of 305.05, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 12, 2021 suggests an attempt to correct and test the support area near the level of 245.55. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 345.55. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 195.05 area. This will indicate a continued decline in cryptocurrency with a target below 165.05.
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