Litecoin LTC/USD ends the trading week at 52.53 and continues to move as part of the fall and the formation of the «Wedge» model. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to reduce and test the support area near the level of 42.50. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above 95.00.
Litecoin Forecast and Analysis October 28 — November 1, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week October 28 — November 1, 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 growth option Litecoin will be a fall and a breakdown of the area of 35.00. This will indicate a breakdown of the lower boundary of the model and a continued fall in the rate of LTC/USD. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the Klin model and closing quotes above 55.05.
Litecoin Forecast and Analysis October 28 — November 1, 2019 suggests an attempt to test the support area near the level of 42.50. Then, continued growth to the area above the level of 95.00. An additional signal in favor of raising Litecoin will be an uptrend test on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 35.00. This will indicate a continued decline in cryptocurrency with a target below the level of 20.00.
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