LTC/USD are traded at 168.30 and continue to move within the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $11,498,126,906. Moving averages indicate a short-term bearish trend for Litecoin. Prices have broken the area between the signal lines upward, 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 a decrease in the value of a digital asset and a test of the support level near the area of 145.05. Where can we expect a rebound again and a continuation of the rise in the Litecoin rate with a potential target above the level of 225.05.
Litecoin Forecast and LTC/USD Analysis October 6, 2021
An additional signal in favor of the growth of LTC/USD quotes will be a test of the bullish trend line on the relative strength index (RSI), as we can see, there were many rebounds from such a trend line. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the coin will be a fall in the value of the asset and a breakdown of the area of 135.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 95.05. With the breakdown of the resistance area and closing of quotations above the level of 195.05, we should expect confirmation of the development of a bullish trend in Litecoin, and this will indicate the price going beyond the downward channel.
Litecoin Forecast and LTC/USD Analysis October 6, 2021 suggests an attempt to correct and test the support area near the level of 145.05. Where can we expect a rebound and a continued rise in the LTC/USD price to the area above the level of 225.05. An additional signal in favor of Litecoin’s growth 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 135.05 area. This will indicate a continued fall in the cryptocurrency with a target below 95.05.
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