Litecoin LTC/USD ends the trading week at 55.52 and continues to move as part of the correction and the downward channel. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to rise and test the resistance area near the level of 68.05. Where again we should expect a rebound and an attempt to start falling in Litecoin with a potential target below the level of 25.55.
Litecoin Forecast and Analysis October 14 — 18, 2019
An additional signal in favor of a drop in LTC/USD quotes in the current trading week October 14 — 18, 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 76.55 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 quotations below the level of 45.05.
Litecoin Forecast and Analysis October 14 — 18, 2019 suggests an attempt to test the resistance area near the level of 68.05. Then, the continuation of the fall to the area below the level of 25.55. 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 76.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 95.55.
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