LTC/USD are trading at 54.19 and continue to move as part of a downward correction. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 550 003 987. Moving averages indicate the presence of a short-term downward trend in Litecoin. At the moment, we should expect an attempt to increase slightly and test the resistance level near the area of 56.05. Where again we should expect a rebound and continued decline in the rate of Litecoin with a potential target below the level of 48.85.
Litecoin Forecast and LTC/USD Analysis November 21, 2019
In favor of falling LTC/USD quotes, a test of a downward 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 fall option will be a strong growth and a breakdown of the area of 57.25. This will indicate a breakdown of the resistance area and an acceleration in the growth of the cryptocurrency rate with a potential target above 65.65. With the breakdown of the support area and closing of quotes below 51.55, we should expect confirmation of the development of a bearish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 21, 2019 implies an attempt to correct and test the resistance area near the level of 56.05. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 48.85. An additional signal in favor of reducing Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 57.25. This will indicate a continued rise in the cryptocurrency with a target above the level of 65.65.
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