Litecoin LTC/USD ends the trading week at 86.37 and continues to move through the growth and upward channel. Moving averages indicate a bullish trend. At the moment, we can expect an attempt to test the support area near the level of 73.05. Where can we expect a rebound again and an attempt to continue growth on Litecoin with a potential target above the level of 125.55.
Litecoin Forecast and Analysis May 20 — 24, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week of May 20 — 24, 2019 will be the support line test on the relative strength index (RSI). The second signal will also be a rebound from the lower boundary of the rising channel. Cancellation of the litecoin decline option will be a strong growth and a breakdown of the 62.55 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in LTC/USD. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the downward channel and closing of quotations above the level of 105.55.
Litecoin Forecast and Analysis May 20 — 24, 2019 implies an attempt to test the support area near the level of 73.05. Then continued growth in the region above the level of 125.55. An additional signal in favor of the rise 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 area of 62.55. This will indicate a continued decline in cryptocurrency with a target below the level of 45.50.