Litecoin LTC/USD ends the trading week at 64.59 and continues to move as part of the fall and the bullish channel. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines down. This indicates pressure from sellers of the digital asset and a potential continuation of the fall in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price correction and a test of the support area near the level of 59.05. Where can we expect a rebound again and an attempt to continue the growth in the value of Litecoin with a potential target below the level of 101.55.
Litecoin Weekly Forecast August 28 — September 1, 2023
An additional signal in favor of the growth of LTC/USD quotes in the current trading week August 28 — September 1, 2023 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of falling Litecoin digital asset will be a strong price increase and a breakdown of the 56.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below 35.05. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 74.05, which will indicate a breakdown of the upper limit of the downward channel.
Litecoin Weekly Forecast August 28 — September 1, 2023 suggests an attempt to test the support area near the level of 59.05. Then, continued growth to the area above the level of 101.55. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a strong fall and a breakdown of the 56.05 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 35.05.
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