Litecoin LTC/USD closes the trading week at 53.83 and continues to move as part of the correction and the formation of the upward «Wave Wolfe» 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 45.00. Where again we should expect a rebound and an attempt to start growth in Litecoin with a potential target above the level of 80.05.
Litecoin Forecast and Analysis September 30 — October 4, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week September 30 — October 4, 2019 will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish 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 border of the «Wave Wolfe» pattern and a continued fall in 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 75.00.
Litecoin Forecast and Analysis September 30 — October 4, 2019 involves an attempt to test the support area near the level of 45.00. Then, continued growth to the area above the level of 80.05. 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 35.00. This will indicate a continued decline in cryptocurrency with a target below the level of 15.00.
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