LTC/USD are trading at 55.08 and continue to move as part of the decline and the downward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 540 001 856. Moving averages indicate the presence of a short-term downward trend in Litecoin. At the moment, we should expect an attempt to correct and test the resistance level near area 58.15. Where again we should expect a rebound and continued decline in the rate of Litecoin with a potential target below the level of 43.65.
Litecoin Forecast and LTC/USD Analysis October 4, 2019
In favor of the fall in LTC/USD quotes, a test of the downward resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall option will be made by strong growth and the breakdown of the area of 63.55. This will indicate a breakdown of the resistance area and an acceleration of the growth of the cryptocurrency rate with a potential target above the level of 72.65. With the breakdown of the support area and closing of quotes below 51.55, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 4, 2019 implies an attempt to reduce and test the resistance area near the level of 58.15. Where can we expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 43.65. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of 63.55. This will indicate a continued rise in the cryptocurrency with a target above the level of 72.65.
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