Litecoin LTC/USD ends the trading week at 30.30 and continues to move as part of the correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 32.50. Where can we expect a rebound again and an attempt to continue the decline of Litecoin with a target below the level of 18.50.
Litecoin Forecast and Analysis February 4 — 8, 2019
In favor of lowering LTC/USD quotes in the current trading week on February 4 — 8, 2019, a resistance line test on the relative strength index (RSI) will be made. As well as a rebound from the upper boundary of the descending channel. Cancellation of the fall option LITECOIN will be a strong growth and the breakdown of the area of 41.50. This will indicate a breakdown of the upper boundary of the channel and continued growth of LTC/USD. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 25.50.
Litecoin Forecast and Analysis February 4 — 8, 2019 implies an attempt to test the resistance area near the level of 32.50. Then the continuation of the fall in the area below the level of 18.50. An additional signal in favor of reducing Litecoin 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 41.50 area. This will indicate the continued growth of cryptocurrency.