Litecoin LTC/USD ends the trading week at 69.39 and continues to move as part of a bullish correction and the formation of a “Wedge” reversal pattern. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines. This indicates pressure from sellers of the digital asset and a potential continuation of the fall in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance area near the level of 72.45. Where can we again expect a downward rebound and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 45.05.
Litecoin Forecast November 27 — December 1, 2023
An additional signal in favor of a fall in LTC/USD quotes in the current trading week November 27 — December 1, 2023 will be a test of the resistance line on the relative strength index. The second signal will be a rebound from the upper boundary of the reversal bullish channel. Cancellation of the fall option for the digital asset Litecoin will be a strong rise in price and a breakdown of the 89.05 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 115.05. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 61.45, which will indicate a breakdown of the lower boundary of the bullish correction channel.
Litecoin Forecast November 27 — December 1, 2023 suggests an attempt to test the resistance area near the 72.45 level. Then, continuation of the fall to the area below the level of 45.05. An additional signal in favor of a decline in Litecoin 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 89.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 115.05.
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