Litecoin LTC/USD are traded at 53.52 and continue to move within the bearish channel. Capitalization of the cryptocurrency at the time of publication of the forecast is $3 147 684 540. At this point, we should expect a test of the resistance level near the area of 55.20. Where again we should expect a rebound and the continued decline of the Litecoin exchange rate with a target below 46.50.
Litecoin forecast & technical analysis September 20, 2018
In favor of falling quotes LTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of the reduction option will be a strong growth and breakdown of the area of 55.00, which will indicate the breakdown of the upper border of the channel and the continued growth of the rate of the cryptocurrency. With the breakdown of the lower border of the rising channel and the closing of quotes below the level of 49.00, it is necessary to expect confirmation of the development of the downward trend for Litecoin.
Litecoin forecast & technical analysis September 20, 2018 suggests a test of the resistance area near the level of 55.20, from which it is expected to rebound and continue falling of LTC/USD in the region below 46.50, an additional signal in favor of the Litecoin fall will be a trend line test on the relative strength index (RSI), the abolition of the decline option will be a strong growth and breakdown of the region 55.00, which will indicate the continued growth of the cryptocurrency.
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