Litecoin LTC/USD traded at 52.31 and continue to move in the bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $3 125 603 478. At the moment, we can expect an attempt to test the resistance level near the area of 54.70. Where can we expect a rebound again and the continuation of the fall of the Litecoin rate with a target below the level of 44.50.
Litecoin forecast & technical analysis October 19, 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 support area and closing of quotes below the level of 49.50, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis October 19, 2018 suggests an attempt to test the resistance area near the level of 54.70, from which one should expect a rebound and the continued fall of LTC/USD to the area below the level of 44.50, the test of the trend line on the relative strength index (RSI) will act as an additional signal in favor of Litecoin, 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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