LTC/USD are trading at 94.84 and continue to move within the growth and bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $6,897,816,146. Moving averages indicate the presence of a short-term bullish trend for Litecoin. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a correction of the digital asset and a test of the support level near the area of 88.95. Whence again we should expect the continuation of the growth of the coin to the level of 110.05.
Litecoin Forecast February 16, 2023
An additional signal in favor of the rise in LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option of the coin will be the fall in the value of the asset and the breakdown of the area of 82.05. 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 75.05. With the breakdown of the resistance area and the closing of quotes above the level of 100.55, we should expect confirmation of the development of a bullish trend for Litecoin, which will indicate a breakdown of the upper limit of the downward correction channel.
Litecoin Forecast February 16, 2023 suggests an attempt to correct and test the support area near the level of 88.95. Where should we expect a rebound and continued growth in the price of LTC/USD to the area above the level of 110.05. An additional signal in favor of the rise of the Litecoin cryptocurrency will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 82.05. This will indicate a continued decline in the cryptocurrency with a target below the level of 75.05.
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