Litecoin LTC/USD ends the trading week at 329.88 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 decline and a test of the support area near the level of 275.55. Where can we expect a rebound again and an attempt to increase the value of Litecoin with a potential target above the level of 455.05.
Litecoin Forecast and Analysis May 17 — 21, 2021
An additional signal in favor of the growth of LTC/USD quotes in the current trading week May 17 — 21, 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 border of the bullish channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in price and a breakdown of the 235.05 area. This will indicate a breakdown of the lower border of the ascending channel and the continuation of the fall in the LTC/USD rate below the level of 165.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 405.05.
Litecoin Forecast and Analysis May 17 — 21, 2021 implies an attempt to test the resistance area near the 275.55 level. Then, the continuation of the fall to the area below the level of 455.05. 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 235.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 165.05.
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