Litecoin LTC/USD are traded at the level of 57.12 and continue to move within the framework of the formation of the «Triangle» model. Capitalization of the cryptocurrency at the time of publication of the forecast is $ 3 340 888 355. At this point, we should expect a test of the resistance level near the area of 59.00. 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 28, 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 61.00 area, which will indicate the breakdown of the upper limit of the «Triangle» model and the continued growth of the rate of the cryptocurrency. With the breakdown of the lower bound of the «Triangle» model and the closing of quotes below the level of 52.50, one should expect a confirmation of the development of the bearish trend in Litecoin.
Litecoin (LTC/USD) technical analysis August 28, 2018 suggests an attempt to test the resistance area near the level of 59.00, from which it is expected to rebound and continue falling of LTC/USD in the area below the level of 45.00, 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 61.00 area, which will indicate continued growth.
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