LTC/USD are trading at 59.40 and continue to move as part of the growth. and beyond the downward channel. The capitalization of Litecoin cryptocurrency at the time of the publication of the forecast is $4 027 276 983. Moving averages indicate the presence of a short-term bearish trend in Litecoin, which is nearing completion. At the moment, we should expect an attempt to reduce and test the support level near the area of 56.45. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 77.45.
Litecoin Forecast and LTC/USD Analysis November 6, 2019
In favor of the growth of LTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. Cancellation of the growth option will be a fall and a breakdown of the area of 50.05. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 40.05. With the breakdown of the resistance area and closing of quotes above 65.95, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 6, 2019 implies an attempt to correct and test the support area near the level of 56.45. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 77.45. An additional signal in favor of raising Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 50.05. This will indicate a continued decline in cryptocurrency with a target below the level of 40.05.
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