Litecoin LTC/USD traded at 57.99 and continue to move in the ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $3 422 078 393. At the moment, we should expect an attempt to test the resistance level near the area of 62.50. Where can we expect a rebound again and the continuation of the fall of the Litecoin course with the goal below the level of 50.00.
Litecoin forecast & technical analysis October 5, 2018
A test of the trend line on the relative strength index (RSI) will be in favor of LTC/USD quotes reduction. Cancellation of the fall option will be a strong growth and a breakdown of the 65.00 area, which will indicate a 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 55.00, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin forecast & technical analysis October 5, 2018 implies an attempt to test the resistance area near the level of 62.50, where we should expect a rebound and the continuation of the fall of LTC/USD to the area below 50.00, 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 65.00 area, which will indicate continued growth in cryptocurrency.
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