Litecoin LTC/USD traded at 61.47 and continue to move within the bullish channel. The capitalization of the cryptocurrency at the time of publication of the forecast is $3 674 569 109. At this point, we should expect an attempt to test the resistance level near the area of 67.50. Where again we should expect a rebound and the continued fall of the Litecoin exchange rate with a target below the level of 40.00.
Litecoin (LTC/USD) technical analysis September 6, 2018
In favor of the drop in LTC/USD quotations, an uptrend line test will be performed on the relative strength index (RSI), as well as a test of the upper boundary of the channel. The abolition of the reduction option will be a strong growth and breakdown of the region of 70.00, 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 quotations below the level of 55.00, we should expect confirmation of the development of the bearish trend for Litecoin.
Litecoin (LTC/USD) technical analysis September 6, 2018 suggests a test of the resistance area near the level of 67.50, from which it is expected to rebound and continue falling of LTC/USD in the area below the level of 40.00, an additional signal in favor of Litecoin decline will be a trend line test on the indicator of relative strength index (RSI), the cancellation of the fall option will be a strong growth and breakdown of the region of 70.00, which will indicate the continuation of the rise of the cryptocurrency.
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