Litecoin LTC/USD are traded at the level of 55.41 and continue to move within a bearish trend. At this point, we should expect a test of resistance level near the area of 57.00. Where again we should expect a rebound and the continued decline of the Litecoin exchange rate with a target below the level of 45.00.
Litecoin (LTC/USD) technical analysis August 16, 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 option will result in a strong growth and breakdown of the 63.00 area, which will indicate the breakdown of the resistance area and the continued growth of the rate of the cryptocurrency. With the breakdown of the support area and the closing of quotes below the level of 48.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 16, 2018 suggests an attempt to drag the field test near the level of 57.00, where we can expect a rebound and continue LTC/USD fall to below the level of 45.00, an additional signal in favor Litecoin reducing perform a test of trend line 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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