Litecoin forecast & technical analysis October 16, 2018


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Litecoin LTC/USD are trading at 52.48 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $3 216 490 873. At the moment, we should expect an attempt to test the resistance level near the 53.50 area. Where can we again expect a rebound and the continuation of the fall of the Litecoin course with the goal below the level of 44.00.

Litecoin forecast & technical analysis October 16, 2018

In favor of lowering LTC/USD quotes, a test of the downward 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 58.50 area, which will indicate the breakdown of the upper boundary of the channel and the continued growth of the cryptocurrency rate. With the breakdown of the area of ​​support and closing of quotations below the level of 47.00, we should expect confirmation of the development of the downward trend in Litecoin.

Litecoin forecast & technical analysis October 16, 2018

Litecoin forecast & technical analysis October 16, 2018 implies an attempt to test the resistance area near the level of 53.50, from which we should expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 44.00, the test of the trend line on the relative strength index (RSI) will act as an additional signal, the cancellation of the fall option will be a strong growth and a breakdown of the 58.50 area, which will indicate continued growth in cryptocurrency.


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