Litecoin Forecast and Analysis September 16 — 20, 2019


Litecoin LTC/USD ends the trading week at 68.42 and continues to move as part of the decline and the beginning of the development of the «Head and Shoulders» reversal pattern. Moving averages indicate the presence of a lateral trend, which will soon change in favor of a downtrend. At the moment, we should expect an attempt to develop a correction and test the resistance area near the level of 75.00. Where again we should expect a rebound and an attempt to continue the decline in Litecoin with a potential target below the level of 45.05.

Litecoin Forecast and Analysis September 16 — 20, 2019

An additional signal in favor of a drop in LTC/USD quotes in the current trading week September 16 — 20, 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 broken line of the «Neckline» of the «Head and Shoulders» reversal pattern. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the area of ​​110.00. This will indicate a breakdown of the resistance area and continued growth of LTC/USD. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 55.00.

Litecoin Forecast and Analysis September 16 — 20, 2019

Litecoin Forecast and Analysis September 16 — 20, 2019 suggests an attempt to test the resistance area near the level of 75.00. Then, the continuation of the fall to the area below the level of 45.05. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of ​​110.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 145.00.


Join our Telegram Channel

Post Comment