Litecoin LTC/USD traded at the level of 75.23 and continues to move within the bearish trend. At this point, we should expect a test of resistance level near the area of 79.00. Where again we should expect a rebound and the continued decline of the Litecoin exchange rate with a target below 65.00.
Litecoin (LTC/USD) technical analysis August 3, 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 abolition of the fall option will be a strong growth and breakdown of the 83.00 area, which will indicate the breakdown of the lower border of the bullish 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 72.00, one should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 3, 2018 is a test of the resistance area test near the level of 79.00, from which it is expected to rebound and continue falling of LTC/USD in the area below the level of 65.00, an additional signal in favor of Litecoin decline will be a trend line test on the indicator of relative strength index (RSI), the abolition of the fall option will be a strong growth and breakdown of the 83.00 area.