LTC/USD are trading at 58.53 and continue to move as part of the growth, but remain below the upper limit of the bearish channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 772 602 681. Moving averages indicate the presence of a short-term bearish trend in Litecoin, however, prices have risen above signal lines, indicating bullish pressure. At the moment, we should expect an attempt to reduce and test the support level near the area of 54.55. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 82.85.
Litecoin Forecast and LTC/USD Analysis October 30, 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 45.05. 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 closing of quotes above 64.05, we should expect confirmation of the development of the bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 30, 2019 implies an attempt to correct and test the support area near the level of 54.55. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 82.85. 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 45.05. This will indicate a continued decline in cryptocurrency with a target below the level of 35.05.
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