Litecoin LTC/USD ends the trading week at 136.73 and continues to move as part of the rise and the start of the bullish ”Wolfe Wave” pattern. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines down. This indicates pressure from sellers of the digital asset and a potential continuation of the Litecoin rate decline in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 105.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 235.05.
Litecoin Forecast and Analysis August 2 — 6, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week from August 2 — 6, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the support area on the price chart. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the 80.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 45.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 165.05.
Litecoin Forecast and Analysis August 2 — 6, 2021 implies an attempt to test the support area near the 105.05 level. Then, continued growth to the area above the level of 235.05. An additional signal in favor of Litecoin rise 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 80.05 area. This will indicate a continued decline in cryptocurrency with a target below 45.05.
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