Connect with us

Hi, what are you looking for?

ELEVENEWS

Litecoin

Litecoin Forecast and Analysis November 16 — 20, 2020

Litecoin LTC/USD ends the trading week at 63.13 and continues to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a bearish trend. However, prices broke through the area between the signal lines upwards. This indicates pressure from buyers of the digital asset and the potential continued growth of the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a correction and a test of the support area near the level of 55.05. Where can we expect a rebound again and an attempt to increase the fall in the value of Litecoin with a potential target above the level of 110.05.

Litecoin Forecast and Analysis November 16 — 20, 2020

An additional signal in favor of raising the LTC/USD quotes in the current trading week, the week of November 16 — 20, 2020 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 “Triangle” pattern. Cancellation of the growth option for the Litecoin digital asset will be a fall in prices and a breakdown of the 40.05 area. This will indicate a breakdown of the support area and a continued fall in the LTC/USD rate below 30.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 70.05, which will indicate a breakdown of the upper border of the “Triangle” model and the beginning of its development.

Litecoin Forecast and Analysis November 16 — 20, 2020

Litecoin Forecast and Analysis November 16 — 20, 2020 implies an attempt to test the support area near 55.05. Then, continued growth to the area above the level of 110.05. An additional signal in favor of Litecoin’s rise 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 40.05 area. This will indicate a continued decline in cryptocurrency with a target below 30.05.

News Source

Advertisement

Trending Post

Chainlink

ChainLink is basically very exciting.  Users have to state that it stirs the imagination and passions of the community in ways that other projects...

IOTA

Senseering offers an IOTA-based solution to create a marketplace for data that can be shared among partners. Senseering’s solution will be used in collaboration...

Ripple

Cryptocurrency investment is becoming a common trend. In the fourth quarter of the year, when investments are said to start doing well, how are...

VeChain

VeChain (VET), BTCMVMNT, and Team Zuby have joined forces to create a limited-edition merchandise collection dubbed “Take the Power Back.” The team says the...

Copyright © ELEVENEWS