Litecoin LTC/USD are trading at 31.77 and continue to move as part of the correction and the formation of the «Head and Shoulders» reversal pattern. Cryptocurrency capitalization at the time of the publication of the forecast is $2 036 924 479. Moving averages indicate the presence of a side trend for Litecoin. At the moment, we should expect an attempt to test the resistance level near 34.50. Where once again we should expect a rebound and the continuation of the fall of the Litecoin course with the target below the level of 24.00.
Litecoin Forecast and LTC/USD Analysis February 5, 2019
In favor of lowering the LTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as the formation of a reversal pattern. Cancellation of the fall option will be a strong growth and the breakdown of the 37.75 area. This will indicate a breakdown of resistance and continued growth of the cryptocurrency rate. With the breakdown of the support area and closing of quotes below the level of 27.50, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 5, 2019 involves an attempt to test the resistance area near the level of 34.50. Where can we expect a rebound and the continuation of the fall of LTC/USD in the region below the level of 24.00. An additional signal in favor of Litecoin’s fall 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 37.75 area. This will indicate the continued growth of cryptocurrency.
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