Litecoin LTC/USD traded at 51.52 and continue to move within the downward channel and the formation of the model «Triangle». Cryptocurrency capitalization at the time of the publication of the forecast is $3 083 712 788. At the moment, we should expect an attempt to test the resistance level near the 53.00 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 45.00.
Litecoin forecast & technical analysis October 23, 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 a breakdown of the 55.00 area, which will indicate a breakdown of the upper boundary of the «Triangle» model and the continued growth of the cryptocurrency rate. With the breakdown of the lower boundary of the «Triangle» model and the closure of quotes below 49.00, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis October 23, 2018 implies an attempt to test the resistance area near the 53.00 level, from which we should expect a rebound and the continuation of the fall of LTC/USD to the area below the 45.00 level, cancellation of the fall option will be a strong growth and a breakdown of the 55.00 area, which will indicate continued growth of cryptocurrency.
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