LTC/USD are trading at 57.02 and continue to move as part of the correction, but remain below the upper border of the downward channel, which indicates pressure from the bears. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $3 682 635 450. Moving averages indicate the presence of a short-term bearish trend for Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 52.25. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 82.65.
Litecoin Forecast and LTC/USD Analysis October 31, 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. 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 65.05, we should expect confirmation of the development of the bullish trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 31, 2019 implies an attempt to correct and test the support area near the level of 52.25. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 82.65. 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 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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