Litecoin LTC/USD completes the trading week at 56.70 and continues to move in a bearish trend. At this point, we should expect an attempt to test the lower border of the channel near the level of 45.00. Whence again we should expect a rebound and an attempt to continue the development of the bullish correction of Litecoin with a target above the level of 110.00.
Litecoin weekly forecast & analysis August 20 — 24, 2018
In favor of LTC/USD quotes growth, a support line test will be performed on the relative strength index (RSI). The abolition of Litecoin’s growth option will be the fall and breakdown of the 40.00 area, which will indicate the breakdown of the lower border of the channel and the continuation of the LTC/USD decline. Confirmation of the growth of the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 80.00.
Litecoin weekly forecast & analysis August 20 — 24, 2018 suggests trying to test the support area near the 45.00 level and continuing correction to an area above 110.00, an additional signal in favor of Litecoin’s growth will be a test of the support line on the indicator of relative strength index (RSI), the reversal of growth will make a strong fall and the breakdown of the region is 40.00, which will indicate the acceleration of the fall of the cryptocurrency.
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