Litecoin LTC/USD traded at 51.87 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 $3 077 756 086. At the moment, we should expect an attempt to test the resistance level near the 52.50 area. Where can we expect a rebound again and the continuation of the fall of the Litecoin rate with a target below the level of 45.50.
Litecoin forecast & technical analysis October 26, 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 area of 54.50, 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 the level of 49.50, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis October 26, 2018 implies an attempt to test the resistance area near the level of 52.50, from which we should expect a rebound and the continuation of the fall of LTC/USD to the area below the level of 45.50, a test of trend line on the relative strength index (RSI) will act as an additional signal, cancellation of the fall option will be a strong growth and a breakdown of the 54.50 area, which will indicate continued growth of cryptocurrency.