LTC/USD are trading at 60.83 and continue to move as part of the correction. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 934 238 453. Moving averages indicate the presence of a short-term bullish trend in Litecoin. At the moment, we should expect an attempt to insignificant correction and a test of the support level near the area of 59.65. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 77.75.
Litecoin Forecast and LTC/USD Analysis November 8, 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 42.05. With the breakdown of the resistance area and the closing of quotations above 66.55, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis November 8, 2019 implies an attempt to correct and test the support area near the level of 59.65. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 77.75. 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 42.05.
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