Litecoin LTC/USD ends the trading week at 57.04 and continues to move as part of the correction and the downward channel. Moving averages indicate a bearish trend, which remains quite strong. At the moment, we should expect an attempt to grow and test the resistance area near the level of 62.45. Where again we should expect a rebound and an attempt to continue the fall of Litecoin with a potential target below the level of 21.65.
Litecoin Forecast and Analysis November 4 — 8, 2019
An additional signal in favor of a drop in LTC/USD quotes in the current trading week November 4 — 8, 2019 will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the 80.05 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of the LTC/USD rate. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 40.35.
Litecoin Forecast and Analysis November 4 — 8, 2019 implies an attempt to test the resistance area near the level of 62.45. Then, the continuation of the fall to the area below the level of 21.65. An additional signal in favor of reducing Litecoin will be a test of a downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 80.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 95.05.
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