Litecoin Forecast and Analysis October 7 — 11, 2019


Litecoin LTC/USD ends the trading week at 56.13 and continues to move as part of the correction and the formation of the «Wedge» model. Moving averages indicate a downward trend. At the moment, we should expect an attempt to reduce and test the support area near the level of 47.50. Where again we should expect a rebound and an attempt to start growth in Litecoin with a potential target above the level of 95.05.

Litecoin Forecast and Analysis October 7 — 11, 2019

An additional signal in favor of an increase in LTC/USD quotes in the current trading week from October 7 to 11, 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 ​​33.45. This will indicate a breakdown of the lower border of the pattern and a continuation of the fall of LTC/USD. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 70.55.

Litecoin Forecast and Analysis October 7 — 11, 2019

Litecoin Forecast and Analysis October 7 — 11, 2019 implies an attempt to test the support area near the level of 47.50. Then, continued growth to the area above the level of 95.05. An additional signal in favor of Litecoin growth will be a test of the broken trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of ​​33.45. This will indicate a continued decline in cryptocurrency with a target below the level of 15.00.


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