Litecoin LTC/USD traded at 58.97 and continue to move within the rising channel. Capitalization of the cryptocurrency at the time of publication of the forecast is $3 464 961 697. At this point, we should expect a test of the support level test near the area of 58.00. Where again we should expect a rebound and the continued growth of the Litecoin exchange rate with a target above the level of 66.50.
Litecoin (LTC/USD) technical analysis August 31, 2018
In favor of the growth of LTC/USD quotes, a test of the broken trend line will appear on the indicator of relative strength index (RSI). Canceling the growth option will be the fall and breakdown of the area of 57.00, which will indicate the breakdown of the support area and the continued decline in the rate of the cryptocurrency. With the breakdown of the resistance area and the closing of quotations above the level of 63.50, one should expect confirmation of the development of the upward trend in Litecoin.
Litecoin (LTC/USD) technical analysis August 31, 2018 assumes a test of the support area near the level of 58.00, from which it is expected to rebound and continue growth of LTC/USD to the area above the level of 66.50, an additional signal in favor of Litecoin rise will be a trend line test on the relative strength index (RSI), the abolition of the growth option will be a fall and breakdown of the area of 57.00, which will indicate the continued decline in the cryptocurrency.
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