Litecoin LTC/USD are traded at the level of 59.66 and continue to move within the bearish trend. At this point, we should expect an attempt to test the upper boundary of the downward channel near the area of 61.50. Where again we should expect a rebound and the continued decline in the Litecoin exchange rate with a target below the level of 48.50.
Litecoin (LTC/USD) technical analysis August 14, 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 cancellation of the fall variant will result in a strong growth and breakdown of the 64.00 area, 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 54.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 14, 2018 suggests a test of the resistance area near the level of 61.50, from which it is expected to rebound and continue falling of LTC/USD in the area below the level of 48.50, 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 area of 64.00.
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