LTC/USD are traded at 193.35 and continue to move within the correction and the bearish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $13,300,612,772. Moving averages indicate a short-term bullish trend for Litecoin. Prices are again pushing 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 180.55. Where can we expect a rebound up again and continued growth in the Litecoin rate with a potential target above the level of 235.05.
Litecoin Forecast and LTC/USD Analysis November 2, 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 ascending channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 165.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 95.05. With the breakdown of the resistance area and closing of quotations above the level of 205.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will also indicate a breakdown of the upper border of the bearish channel.
Litecoin Forecast and LTC/USD Analysis November 2, 2021 suggests an attempt to correct and test the support area near the level of 180.55. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 235.05. 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 165.05 area. This will indicate a continued decline in cryptocurrency with a target below 95.05.
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