Litecoin LTC/USD are traded at 55.00 and continue to move in the bearish trend. At this point, we should expect an attempt to test the upper boundary of the 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 the level of 45.00.
Litecoin (LTC/USD) technical analysis August 21, 2018
In favor of the decline in LTC/USD quotes, there will be a rebound from the resistance area on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The abolition of the fall option will be a strong growth and breakdown of the 60.00 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 level of 53.00, we should expect a confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 21, 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 to the area below the level of 45.00, an additional signal in favor of Litecoin decline will be the formation of a reversal model on the indicator of relative strength index (RSI), the abolition of the fall option will be a strong growth and breakdown of the region of 60.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
