Litecoin LTC/USD are traded at level 147 and continue to move within a bearish trend. At this point, we should expect a test of the support level test near the area of 140. Again, we should expect a rebound and the continued growth of the Litecoin exchange rate with a target above the level of 200, within the beginning of the development of the bullish «Wolfe Wave» model.
Litecoin forecast & technical analysis on March 19, 2018
In favor of LTC/USD quotes growth, a support line test will be performed on the relative strength index (RSI). Canceling the growth option will be a fall and breakdown of the 120 area, which will indicate the breakdown of the lower boundary of the «Wolfe Wave» model and the continuation of the LTC/USD decline. With the breakdown of the bearish trendline and the closing of quotes above the level of 160, we should expect confirmation of the development of the bullish trend in Litecoin.
Litecoin forecast & technical analysis on March 19, 2018 suggests a test of the support area near the level of 140, from which it is expected to rebound and continue growth in the area above the level of 200, an additional signal in favor of Litecoin growth will be a test of the trend line on the indicator of relative strength index (RSI).
