Litecoin LTC/USD are traded at the level of 53.49 and continue to move within the framework of the formation of the «Triangle» model. Capitalization of the cryptocurrency at the time of publication of the forecast is $3 127 067 075. At this point, we should expect a test of the resistance level near the area of 54.70. Where again we should expect a rebound and the continued decline of the Litecoin exchange rate with a target below 46.00.
Litecoin forecast & technical analysis September 12, 2018
In favor of falling quotes LTC/USD will test the trend line on the indicator of relative strength, as well as the upper bound of the model «Triangle». The abolition of the reduction option will be a strong growth and breakdown of the area of 60.00, which will indicate the breakdown of the upper boundary of the model and the continued growth of the rate of the cryptocurrency. With the breakdown of the lower bound of the Triangle model and the closing of quotes below the level of 51.50, one should expect a confirmation of the development of the bearish trend in Litecoin.
Litecoin forecast & technical analysis September 12, 2018 suggests a test of the resistance area near the level of 54.70, from which it is expected to rebound and continue falling of LTC/USD in the area below 46.00, an additional signal in favor of Litecoin decline will be a trend line test on the relative strength index (RSI), the cancellation of the fall option will be a strong growth and breakdown of the area of 60.00, which will indicate the continuation of the rise of the cryptocurrency.
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