Litecoin LTC/USD traded at 102.39 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $6 397 542 341. Moving averages indicate the upward trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the 95.55 area. Where can we expect a rebound again and the continuation of the growth of the Litecoin rate with a potential target above the level of 125.45.
Litecoin Forecast and LTC/USD Analysis June 7, 2019
The test of the support line on the relative strength index (RSI) will be in favor of the growth of LTC/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. The cancellation of the growth option will be a strong decline and a breakdown of the 89.55 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the cryptocurrency rate with a potential target below the level of 82.50. With the breakdown of the resistance area and the closing of quotations above 115.65, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis June 7, 2019 involves an attempt to test the support area near the level of 95.55. Where can we expect a rebound and continued growth of LTC/USD in the area above 125.45. An additional signal in favor of growth of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the 89.55 area. This will indicate a continued decline in cryptocurrency with a target below 82.50.
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