LTC/USD are trading at 58.46 and continue to move as part of the correction and the bearish channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 784 592 229. Moving averages indicate the presence of a short-term bearish trend in Litecoin, but prices have risen above signal lines, indicating pressure from buyers. At the moment, we should expect an attempt to fall and test the support level near the area of 53.45. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 83.05.
Litecoin Forecast and LTC/USD Analysis October 29, 2019
In favor of the growth of LTC/USD quotes, a test of the broken trend line on the relative strength index (RSI) will come out. The second signal will be a breakdown of the upper boundary of the downward channel. Cancellation of the growth option will be a fall and a breakdown of the area of 44.05. 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 35.05. 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 October 29, 2019 implies an attempt to correct and test the support area near the level of 53.45. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 83.05. 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 44.05. This will indicate a continued decline in cryptocurrency with a target below the level of 35.05.
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