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Litecoin Technical Analysis | 9 October 2018

2018-10-09 08:39 am | Resource: Technical Analysis Section | No Views : 2419

Litecoin Technical Analysis | 9 October 2018 Litecoin (LTC) against USD is still trading below the broken bullish trend line and even the mother is retesting the $ 58.78 area due to the weakness of the current bearish trend.
Digital currency trading in a downtrend in the configuration on the time frame 240 minutes This trend of a large weakness and the index (ADX) confirms that and we recommend buying in the event of a breach of $ 58.78.
Litecoin Technical Analysis | 9 October 2018
The SMA 20 is neutral as a result of not trading in a specific direction.
Momentum Relative Strength 14 is trading in a bearish trend in formation, which is weak due to the formation of a higher top than the other, as well as a higher bottom than another.

Outlook:

It is expected that, in the case of breaking Litecoin areas of $ 56.54 the currency may target areas of $ 51.92.
On the other hand, if a breach of $ 58.78 is made, the digital currency may target the $ 62.60 area.
Support: 53.17- 47.26 - 39.64
Resistance: 63.49- 71.86 - 85.81
Trend: Down

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