Litecoin LTC/USD are traded at the level of 55.17 and continue to move within a bearish trend. Capitalization of cryptocurrency at the time of publication of the forecast remains at $ 3 237 171 003. At the moment, 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 47.50.
Litecoin (LTC/USD) technical analysis August 22, 2018
In favor of the decline in quotations LTC/USD will test the resistance 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 of 58.50, 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 quotes below the level of 51.50, one should expect a confirmation of the development of the downward trend in Litecoin.
Litecoin (LTC/USD) technical analysis August 22, 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 47.50, an additional signal in favor of Litecoin decline will be a trend line test on the relative strength index (RSI), the abolition of the fall option will be a strong growth and breakdown of the region of 58.50, indicating that the growth will continue.
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