Litecoin LTC/USD closes the trading week at 46.79 and continues to move as part of the decline and the bearish channel. Moving averages indicate a bearish trend, which remains quite strong, prices again pushed from the area between the signal lines. This indicates pressure from sellers. At the moment, we should expect an attempt to fall and test the support area near the level of 37.55. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above the level of 80.05.
Litecoin Forecast and Analysis December 2 — 6, 2019
An additional signal in favor of an increase in LTC/USD quotes in the current trading week December 2 — 6, 2019 will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Wedge» model. Cancellation of the Litecoin growth option will be a fall and a breakdown of the 30.05 area. This will indicate a breakdown of the support area and a continuation of the fall in the LTC/USD rate and a fall below the level of 20.05. Confirmation of the growth of cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 63.45.
Litecoin Forecast and Analysis December 2 — 6, 2019 implies an attempt to test the support area near the level of 37.55. Then, continued growth to the area above the level of 80.05. An additional signal in favor of Litecoin growth will be an uptrend test on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the area of 30.05. This will indicate a continued fall in cryptocurrency with a target below the level of 20.05.
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