Cryptocurrency Litecoin completes the trading week near the 65 area. LTC/USD quotes are traded below the lower border of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Litecoin. As part of the cryptocurrency rate forecast for the next week, August 21 — 25, 2023. An attempt is expected to develop a price correction and test the area of the Ichimoku indicator signal lines near the level of 73. Where should we expect a rebound down and an attempt to continue the fall of the LTC/USD rate with a potential target below the level of 35.
Litecoin Analysis August 21 — 25, 2022
A strong signal in favor of the fall of the cryptocurrency will be a test of the resistance level on the asset chart. The second signal will be a rebound from the upper border of the bearish channel. Earlier, a weak signal was received for the sale of the Litecoin cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 96. The nearest area of resistance for Litecoin is at the level of 83. The area of support for LTC/USD is at the level of 51.
Cancellation of the Litecoin fall option in the current trading week will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 97 area. This will indicate a change in the bearish trend in favor of the bullish trend and continued growth of the coin in price. It is worth expecting an acceleration in the fall of the cryptocurrency with a breakdown of the support area and closing the price below the level of 58.
Litecoin Analysis August 21 — 25, 2022 suggests an attempt to develop a correction to the level of 73. Where should we expect a rebound down and the cryptocurrency will continue to fall with a potential target near the level of 35. A rebound from the lower border of the bullish channel will come out in favor of the rise. Cancellation of the option to depreciate the coin will be a strong growth and a breakdown of the 97 area. In this case, we should expect the continued growth of the Litecoin digital currency with a potential target at the level of 125.
