Litecoin LTC/USD are traded at the level of 52.67 and continue to move within a bearish trend. At this point, we should expect an attempt to test the upper boundary of the descending channel near the area of 56.00. Where again we should expect a rebound and the continued decline of the Litecoin exchange rate with a target below 38.00.
Litecoin (LTC/USD) technical analysis August 15, 2018
In favor of the decline in LTC/USD quotations, a trend line test will be performed on the indicator of relative strength index (RSI). The cancellation of the fall variant will result in a strong growth and breakdown of the 63.00 area, which will indicate the breakdown of the upper border of the channel and the continued growth of the rate of the cryptocurrency. With the breakdown of the support area and the closing of quotations below the 46.00 level, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 15, 2018 suggests a test of the resistance area near the level of 56.00, from which it is expected to rebound and continue falling of LTC/USD in the area below 38.00, an additional signal in favor of Litecoin decline will be a trend line test on the indicator of relative strength index (RSI), the abolition of the fall option will be a strong growth and breakdown of the area 63.00.
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