LTC/USD are trading at 55.23 and continue to move as part of a downward correction. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 595 112 292. Moving averages indicate the presence of a short-term flat trend in Litecoin. At the moment, we should expect an attempt to slightly fall and test the support level near the area of 52.45. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 71.35.
Litecoin Forecast and LTC/USD Analysis November 20, 2019
In favor of the growth of LTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the growth option will be a fall and a breakdown of the area of 47.25. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 40.05. With the breakdown of the resistance area and the closing of quotes above 63.05, we should expect confirmation of the development of the bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 20, 2019 implies an attempt to correct and test the support area near the level of 52.45. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 71.35. An additional signal in favor of raising Litecoin 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 area of 47.25. This will indicate a continued decline in cryptocurrency with a target below the level of 40.05.
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