LTC/USD are traded at the level of 272.08 and continue to move as part of the correction and the formation of the ”Triangle” pattern. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $18,734,692,850. 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 250.55. Where can we expect a rebound up again and continued growth in the Litecoin rate with a potential target above the level of 355.05.
Litecoin Forecast and LTC/USD Analysis November 16, 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 lower border of the ”Triangle” pattern. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 205.55 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 175.05. 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 the bullish trend in Litecoin and the beginning of the development of the ”Triangle” model.
Litecoin Forecast and LTC/USD Analysis November 16, 2021 implies an attempt to correct and test the support area near the level of 250.55. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 355.05. 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 205.55 area. This will indicate a continued decline in cryptocurrency with a target below 175.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link