Litecoin LTC/USD ends the trading week at 355.84 and continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices moved up from the area between the signal lines. This indicates pressure from buyers of the digital asset and the potential continued growth of the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price rise and a test of the resistance area near the level of 385.05. Where can we expect a rebound again and an attempt to fall in the value of Litecoin with a potential target below the level of 265.05.
Litecoin Forecast and Analysis May 10 — 14, 2021
An additional signal in favor of a fall in LTC/USD quotes in the current trading week May 10 — 14, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option for the fall of the Litecoin digital asset will be a strong rise in prices and a breakdown of the 425.05 area. This will indicate a breakdown of the upper border of the ascending channel and continued growth of the LTC/USD rate above the level of 585.05. Confirmation of the fall of the cryptocurrency will be the breakdown of the support area and closing of quotations below the level of 315.05.
Litecoin Forecast and Analysis May 10 — 14, 2021 implies an attempt to test the resistance area near the 385.05 level. Then, the continuation of the fall to the area below the level of 265.05. An additional signal in favor of a decline in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 425.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 585.05.
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