Litecoin LTC/USD traded at level 31 and continue to move within the bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $1 891 023 392. At the moment, we can expect an attempt to test the resistance level near the area of 33.50. Where once again we should expect a rebound and the continuation of the decline in the course of Litecoin with the goal below the level of 22.50.
Litecoin forecast & technical analysis December 5, 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 the area of 36.50. This will indicate a breakdown of the upper boundary of the downward channel and the continuation of the 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 5, 2018 involves an attempt to test the resistance area near the level of 33.50. Where can we expect a rebound and continue to reduce LTC/USD in the area below the level of 22.50. 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 of 36.50. This will indicate the continued growth of cryptocurrency.
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