Litecoin LTC/USD traded at level 30 and continue to move within the bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $1 835 119 353. At the moment, we can expect an attempt to test the resistance level near area 33. Where again we should expect a rebound and continued decline in the Litecoin rate with a target below level 21.
Litecoin forecast & technical analysis December 4, 2018
In favor of the growth of LTC/USD quotes, a test of a broken trend line on the relative strength index (RSI) will be made. Cancellation of the fall option will be a strong growth and the breakdown of area 37. This will indicate a breakdown of the upper boundary of the downward channel and the continued growth of the cryptocurrency rate. With the breakdown of the support area and closing of quotes below level 26, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis December 4, 2018 involves an attempt to test the resistance area near level 33. Where should we expect a rebound and continue to reduce LTC/USD to the area below level 21. 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 37. This will indicate a continued growth of cryptocurrency.
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