LTC/USD are traded at the level of 166.00 and continue to move as part of the rise and the downtrend channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $11,428,119,677. Moving averages indicate a short-term bearish trend for Litecoin. Prices have broken the area between the signal lines upwards, which indicates pressure from the buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop the growth in the value of a digital asset and a test of the resistance level near the area of 175.55. Where can we expect a rebound again and the continuation of the fall in the Litecoin rate with a potential target below the level of 106.55.
Litecoin Forecast and LTC/USD Analysis October 5, 2021
An additional signal in favor of a fall in 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 descending channel. Cancellation of the coin falling option will be a strong increase in the value of the asset and a breakdown of the 195.05 area. This will indicate a breakdown of the resistance area and a continued rise in the cryptocurrency rate with a potential target above the level of 245.55. With the breakdown of the support area and closing of quotations below the level of 135.05, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 5, 2021 suggests an attempt to correct and test the resistance area near the level of 175.55. Where can we expect a rebound and the continuation of the fall in LTC/USD to the area below the level of 106.55. An additional signal in favor of the fall in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the 195.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 245.55.
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