Litecoin LTC/USD traded at 24.16 and continue to move in the bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $1 479 706 681. At the moment, we should expect an attempt to test the resistance level near the 26.55 area. Where can we again expect a rebound and the continuation of the decline of the Litecoin rate with the target below the level of 18.20.
Litecoin forecast & technical analysis December 11, 2018
In favor of the growth of LTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. Cancellation of the fall option will be a strong growth and the breakdown of the area 29.50. This will indicate a breakdown of the upper boundary of the Triangle model and the continuation of the growth of the cryptocurrency rate. With the breakdown of the lower boundary of the «Triangle» model and the closure of quotes below 21.50, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis December 11, 2018 involves an attempt to test the resistance area near the level of 26.55. Where can we expect a rebound and continue to reduce LTC/USD in the region below the level of 18.20. An additional signal in favor of Litecoin’s fall is 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 29.50. This will indicate the continued growth of cryptocurrency.
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