Litecoin LTC/USD ends the trading week at 133.19 and continues to move as part of the correction and the formation of the bullish ”Wolfe Wave” pattern. Moving averages indicate a bullish 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 98.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 245.05.
Litecoin Forecast and Analysis July 5 — 9, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week July 5 — 9, 2021 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish ”Wolfe Wave” pattern. Cancellation of the option of raising the Litecoin digital asset will be a fall in price and a breakdown of the 55.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 25.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 175.05.
Litecoin Forecast and Analysis July 5 — 9, 2021 implies an attempt to test the support area near the level of 98.05. Then, the continuation of the rise to the area above the level of 245.05. An additional signal in favor of Litecoin’s growth will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 55.05 area. This will indicate a continued decline in cryptocurrency with a target below 25.05.
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