Litecoin LTC/USD ends the trading week at 63.38 and continues to move as part of the fall and left 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 bullish price correction and a test of the resistance area near the level of 72.55. Where should we expect a rebound down again and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 30.05.
Litecoin Weekly Forecast September 4 — 8, 2023
An additional signal in favor of falling LTC/USD quotes in the current trading week September 4 — 8, 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 90.05 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 120.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 57.05.
Litecoin Weekly Forecast September 4 — 8, 2023 suggests an attempt to test the resistance area near the level of 72.55. Then, the continuation of the fall to the area below the level of 30.05. An additional signal in favor of Litecoin’s decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 90.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 120.05.