Litecoin LTC/USD closes the trading week at 52.22 and continues to move as part of the fall and the bearish 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 62.45. Where again we should expect a rebound and an attempt to start falling in Litecoin with a potential target below the level of 25.05.
Litecoin Forecast and Analysis October 21 — 25, 2019
An additional signal in favor of falling LTC/USD quotes in the current trading week on October 21 — 25, 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 78.55 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 42.25.
Litecoin Forecast and Analysis October 21 — 25, 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 25.05. 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 78.55 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 90.55.
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