Litecoin LTC/USD traded at the level of 77.34 and continue 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 in the Litecoin exchange rate with a target below 70.00.
Litecoin (LTC/USD) technical analysis August 2, 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 upper boundary of the bearish channel and the continued growth of the rate of the crypto currency. With the breakdown of the support area and the closing of quotations below the level of 74.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis August 2, 2018 suggests 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 70.00, 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.