Litecoin LTC/USD ends the trading week at 99.48 and continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines up. This indicates pressure from buyers of the digital asset and the potential continued growth of the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a rise in the price and a test of the resistance area near the level of 104.05. Where can we expect a downward rebound again and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 37.55.
Litecoin Forecast February 20 — 24, 2023
An additional signal in favor of a decrease in LTC/USD quotes in the current trading week February 20 — 24, 2023 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option of falling digital asset Litecoin will be a strong rise in price and a breakdown of the area of 130.05. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 185.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 65.05, which will indicate a breakdown of the lower border of the bullish correction channel.
Litecoin Forecast February 20 — 24, 2023 suggests an attempt to test the resistance area near the level of 104.05. Then, the continuation of the fall to the area below the level of 37.55. An additional signal in favor of Litecoin’s decline 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 area of 130.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 185.05.
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