Litecoin LTC/USD are trading at 56.86 and continue to move within the framework of a bullish correction. Capitalization of the cryptocurrency at the time of publication is $ 3 349 145 147. At this point, you should expect a test of resistance level near the area of 58.50. Where again we should expect a rebound and the continued decline in the Litecoin exchange rate with a target below the level of 51.50.
Litecoin (LTC/USD) technical analysis August 23, 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 region of 61.50, which will indicate the breakdown of resistance 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 54.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 23, 2018 suggests a test of the resistance area near the level of 58.50, from which it is expected to rebound and continue falling of LTC/USD in the region below the level of 51.50, 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 61.50, which indicates the continued growth.
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