Litecoin LTC/USD ends the trading week at 40.99 and continues to move as part of the decline and the beginning of the development of the «Triangle» model. Moving averages indicate a bearish trend. Prices have gone down from the area between the signal lines. This indicates pressure from the sellers of the digital asset and the potential continuation of the fall in the rate of Litecoin in the current trading week. At the moment, we should expect an attempt to develop a slight bullish correction and a test of the resistance area near the level of 43.05. Where again we should expect a rebound and an attempt to start a fall in the value of Litecoin with a potential target below the level of 25.65.
Litecoin Forecast and Analysis July 6 — 10, 2020
An additional signal in favor of lowering LTC/USD quotes in the current trading week July 6 — 10, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of falling the Litecoin digital asset will be a strong price increase and a breakdown of the 55.05 area. This will indicate a breakdown of the resistance area and the continuation of the rise in the LTC/USD rate above the level of 105.05. A confirmation of the decline in cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 35.05.
Litecoin Forecast and Analysis July 6 — 10, 2020 suggests an attempt to test the resistance area near the level of 43.05. Then, the continuation of the fall to the area below the level of 25.65. An additional signal in favor of the fall of Litecoin will be a test of a downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 55.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 105.05.