LTC/USD are trading at 70.10 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 $4 412 755 483. Moving averages indicate the presence of a short-term bullish trend in Litecoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 71.00. Where again we should expect a rebound and continued fall of the Litecoin rate with a potential target below 60.45.
Litecoin Forecast and LTC/USD Analysis September 12, 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 a breakdown of the area of 74.55. 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 85.05. With the breakdown of the support area and closing of quotes below 62.50, we should expect confirmation of the development of a downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis September 12, 2019 implies an attempt to test the resistance area near the level of 71.00. Where can we expect a rebound and continued fall of LTC/USD to the area below 60.45. An additional signal in favor of reducing Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 74.55. This will indicate a continued rise in the cryptocurrency with a target above the level of 85.05.
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