LTC/USD are traded at the level of 204.06 and continue to move within the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,068,777,013. Moving averages indicate a short-term sideways trend in Litecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of 185.05. Where can we expect a rebound upward again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.
Litecoin Forecast and Analysis December 3, 2021
An additional signal in favor of raising the LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Head and Shoulders reversal pattern. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 175.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.05. With the breakdown of the resistance area and closing of quotations above the level of 225.05, we should expect confirmation of the development of the bullish trend in Litecoin and the beginning of the development of the “Head and Shoulders” reversal pattern.
Litecoin Forecast and Analysis December 3, 2021 suggests an attempt to correct and test the support area near the level of 185.05. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of an increase in 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 175.05 area. This will indicate a continued fall in the cryptocurrency with a target below 135.05.