LTC/USD are trading at 58.22 and continue to move as part of the growth and upward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 737 667 943. Moving averages indicate the presence of a short-term downward trend in Litecoin, which is nearing completion. At the moment, we should expect an attempt to fall and test the support level near the area of 53.65. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 70.55.
Litecoin Forecast and LTC/USD Analysis October 10, 2019
In favor of the growth of LTC/USD quotes, a test of the rising support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option will be a fall and a breakdown of the area of 48.05. 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 43.25. With the breakdown of the resistance area and the closing of quotes above 64.55, we should expect confirmation of the development of a bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 10, 2019 implies an attempt to reduce and test the support area near the level of 53.65. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 70.55. 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 48.05. This will indicate a continued decline in cryptocurrency with a target below the level of 43.25.
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