Litecoin LTC/USD ends the trading week at 67.22 and continues to move as part of a strong growth and left the descending channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines. 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 decrease and test the support area near the level of 55.65. Where can we expect a rebound again and an attempt to continue the growth in the value of Litecoin with a potential target above the level of 125.05.
Litecoin Weekly Forecast November 7 — 11, 2022
An additional signal in favor of the growth of LTC/USD quotes in the current trading week November 7 — 11, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, which was broken up by buyers. Cancellation of the option to raise the Litecoin digital asset will be a price drop and a breakdown of the 45.05 area. This will indicate a breakdown of support and a continuation of the fall in the LTC/USD rate below the level of 25.05. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and the closing of quotes above the level of 75.55.
Litecoin Weekly Forecast November 7 — 11, 2022 suggests an attempt to test the support area near the level of 55.65. Then, continued growth to the area above the level of 125.05. 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 fall and a breakdown of the 45.05 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 25.05.
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