LTC/USD are trading at 56.52 and continue to move as part of the correction and the upward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 632 762 238. 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 the area of 58.25. Where again we should expect a rebound and a continued fall in the rate of Litecoin with a potential target below 42.45.
Litecoin Forecast and LTC/USD Analysis October 9, 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 ascending channel. Cancellation of the fall option will be made by strong growth and the breakdown of the 64.65 area. This will indicate a breakdown of the resistance area and an acceleration in the growth of the cryptocurrency rate with a potential target above the level of 74.05. With the breakdown of the support area and closing of quotes below the level of 50.05, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis October 9, 2019 implies an attempt to reduce and test the resistance area near the level of 58.25. Where can we expect a rebound and continued fall of LTC/USD to the area below 42.45. 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 a breakdown of the 64.65 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 74.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
