Litecoin LTC/USD are traded at 58.68 and continue to move within the correction. Capitalization of the cryptocurrency at the time of publication of the forecast is $3 449 757 129. At this point, we should expect a test of resistance level near the area of 61.00. Where again we should expect a rebound and the continued decline in the Litecoin exchange rate with a target below 47.00.
Litecoin forecast & technical analysis September 27, 2018
In favor of the decline in LTC/USD quotations, a trend line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The abolition of the fall option will be a strong growth and breakdown of the region of 64.50, which will indicate a breakdown of resistance and the continued growth of the rate of the cryptocurrency. With the breakdown of the support area and the closing of quotes below the level of 52.50, one should expect confirmation of the development of the downward trend for Litecoin.
Litecoin forecast & technical analysis September 27, 2018 suggests a test of the resistance area near the level of 61.00, from which it is expected to rebound and continue falling of LTC/USD in the area below 47.00, 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 64.50, which will indicate the continued growth of the crypto currency.
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