Litecoin LTC/USD traded at 52.39 and continue to move in the downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $3 168 370 831. At the moment, we should expect an attempt to test the resistance level near the 54.50 area. From where it is again necessary to expect a rebound and the continuation of the fall of the Litecoin course with the goal below the level of 47.00.
Litecoin forecast & technical analysis October 18, 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 49.00, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis October 18, 2018 implies an attempt to test the resistance area near the level of 54.50, where we should expect a rebound and the continuation of the fall of LTC/USD to the area below 47.00, an additional signal in favor of Litecoin reduction is a test of the trend line on the relative strength index (RSI), 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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