Litecoin LTC/USD are traded at the level of 55.40 and continue to move within the bearish channel. Capitalization of the cryptocurrency at the time of publication of the forecast is $3 251 664 456. At this point, we should expect an attempt to test the resistance level near the area of 58.50. Where again we should expect a rebound and the continued fall of the Litecoin exchange rate with a target below 49.00.
Litecoin forecast & technical analysis September 7, 2018
In favor of falling quotations LTC/USD will test the trend line on the indicator of relative strength, as well as test the upper boundary of the bearish channel. The abolition of the reduction option will be a strong growth and breakdown of the 61.00 area, 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 support area and the closing of quotes below the level of 52.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin forecast & technical analysis September 7, 2018 suggests an attempt to test the resistance area near the level of 58.50, from which it is expected to rebound and continue falling of LTC/USD in the area below the level of 49.00, an additional signal in favor of Litecoin decline will be a trend line test on the relative strength index (RSI), the abolition of the fall option will be a strong growth and breakdown of the 61.00 area, which will indicate the continued rise of the cryptocurrency.
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