LTC/USD are trading at 187.81 and continue to move as part of the correction and the bearish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $12,889,807,583. 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 rise in the value of a digital asset and a test of the resistance level near the 195.05 area. Where can we expect a rebound down again and the continuation of the fall in the Litecoin rate with a potential target below the level of 130.05.
Litecoin Forecast and LTC/USD Analysis October 29, 2021
An additional signal in favor of falling LTC/USD quotes will be a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option of falling coins will be a strong growth in the value of the asset and a breakdown of the area of 225.05. This will indicate a breakdown of the resistance area and continued growth in the cryptocurrency rate with a potential target above the level of 285.05. With the breakdown of the support area and closing of quotations below the level of 170.05, we should expect confirmation of the development of a downward trend in Litecoin, which will also indicate a breakdown of the lower border of the bullish channel.
Litecoin Forecast and LTC/USD Analysis October 29, 2021 suggests an attempt to correct and test the resistance area near the level of 195.05. Where can we expect a rebound and the continuation of the fall in the LTC/USD price to the area below the level of 130.05. An additional signal in favor of a decline in 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 225.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 285.05.
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