LTC/USD are traded at 149.64 and continue to move as part of the correction and the beginning of the “Head and Shoulders” reversal pattern. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $9,940,412,810. Moving averages indicate a short-term sideways trend in Litecoin. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall 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 165.55 area. 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 100.55.
Litecoin Forecast and LTC/USD Analysis September 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 ”Neckline” of the “Head and Shoulders” reversal pattern. Cancellation of the coin fall option will be a strong growth in the value of the asset and a breakdown of the 230.05 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 285.05. 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 September 29, 2021 suggests an attempt to correct and test the resistance area near the level of 165.55. Where can we expect a rebound and the continuation of the fall in LTC/USD to the area below the level of 100.55. 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 230.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 285.05.
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