LTC/USD are trading at 202.20 and continue to move as part of the correction and left the bearish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $ 14,127,324,089. 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 190.75. Where can we expect a rebound upward again and continued growth in the Litecoin rate with a potential target above the level of 230.55.
Litecoin Forecast and LTC/USD Analysis November 5, 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 descending channel. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 175.55 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 125.05. With the breakdown of the resistance area and closing of quotations above the level of 215.05, we should expect confirmation of the development of a bullish trend in Litecoin, which will also indicate a breakdown of the next upper border of the bearish channel.
Litecoin Forecast and LTC/USD Analysis November 5, 2021 suggests an attempt to correct and test the support area near the level of 190.75. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 230.55. 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 175.55 area. This will indicate a continued decline in cryptocurrency with a target below 125.05.
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