LTC/USD are trading at 62.41 and continue to move as part of the growth. The capitalization of Litecoin cryptocurrency at the time of the publication of the forecast is $4 029 961 404. Moving averages indicate the presence of a short-term lateral trend for Litecoin, which is nearing completion. At the moment, we should expect an attempt at a slight correction and a test of the support level near the area of 59.35. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 81.65.
Litecoin Forecast and LTC/USD Analysis November 7, 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 51.05. 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 the closing of quotes above the level of 67.05, we should expect confirmation of the development of the bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 7, 2019 implies an attempt to correct and test the support area near the level of 59.35. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 81.65. 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 51.05. This will indicate a continued decline in cryptocurrency with a target below the level of 40.05.
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