Litecoin LTC/USD completes the trading week at 56.54 and continues to move in a bearish trend. At this point, we should expect an attempt to test the upper border of the channel near the level of 65.00. Where again we should expect a rebound and an attempt to continue the development of the bearish trend for Litecoin with a target below the level of 35.00.
Litecoin weekly forecast & analysis August 27 — 31, 2018
In favor of the decline in LTC/USD quotations on the current trading week on August 27 — 31, 2018, a resistance line test will be performed on the relative strength index (RSI). The abolition of Litecoin’s fall will be a strong growth and breakdown of the area of 80.00, which will indicate the breakdown of the upper boundary of the bearish channel and the continued growth of LTC/USD. Confirmation of the decrease of the cryptocurrency will be the breakdown of the support area and the closing of quotations below the level of 53.00.
Litecoin weekly forecast & analysis August 27 — 31, 2018 suggests an attempt to test the resistance area near the level of 65.00 and continue falling to the area below the level of 35.00, an additional signal in favor of Litecoin decline will be a test of the resistance line on the indicator of relative strength index (RSI).
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