Cryptocurrency Litecoin is trading at the level of 65 and continues to move within the correction and bearish channel. LTC/USD quotes are moving below the lower border of the Cloud of the Ichimoku Kinko Hyo technical indicator. This indicates the presence of a bearish trend in the cryptocurrency. As part of the Litecoin price forecast for August 30, 2023. An attempt is expected to develop a bullish correction and test the lower boundary of the Ichimoku Kinko Hyo indicator cloud near the level of 67. Where should we expect a rebound down and an attempt to continue the fall of the LTC/USD asset with a target above the level of 52.
Litecoin Forecast and Analysis for August 30, 2023
An additional signal in favor of the fall of the Litecoin cryptocurrency in the markets will be a test of the resistance area on the cryptocurrency price chart. The second signal in favor of this scenario will be a rebound from the upper border of the bearish channel. Earlier, a strong 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 82. The nearest resistance area for Litecoin on the cryptocurrency chart is at the level of 68. The support area for LTC/USD is at the level of 59.
Cancellation of the Litecoin cryptocurrency fall option will be a strong growth and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the level of 73. This option will indicate a change in the bearish trend in favor of the bullish trend and continued growth of the cryptocurrency. Expect an acceleration in the fall of LTC/USD quotes with a breakdown of the support area and closing prices below the level of 58.
Litecoin Forecast and Analysis for August 30, 2023 suggests an attempt to correct the cryptocurrency and test level 67. Where should we expect the Litecoin rate to continue to grow with a potential target near the level 52, the continuation of the fall of the cryptocurrency with the target below the level of 90.
