Technical analysis Litecoin LTC/USD - 06.10.2017

Litecoin price, like other altcoins, been falling from September 1st until the 15th, when rebound occured. Declines reached 34.5 USD. So far, the LTC rate has been moving in the upward channel from which it hit the top, reaching almost 94 USD. The price is now again within the range of the growth channel.

We are in the area of the lower limit of the channel, which involves searching for buying opportunities. Below are the scenarios for the coming days. Due to the fact that already the price has rebounded from the lower limit, the place we are offering to buy is a rebound of resistance of 55.5 USD and its test from the top. We recommend selling after breaking the support tested on September 15.