Litecoin LTC/USD ends the trading week at 263.84 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 fall in prices and a test of the support area near the level of 230.05. Where can we expect a rebound again and an attempt to increase the value of Litecoin with a potential target above the level of 345.05.
Litecoin Forecast and Analysis May 3 — 7, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week May 3 — 7, 2021 will be a test of the trend 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 prices and a breakdown of the 190.05 area. This will indicate a breakdown of the lower boundary of the ascending channel and a continued decline in the LTC/USD rate below the level of 105.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 305.05.
Litecoin Forecast and Analysis May 3 — 7, 2021 implies an attempt to test the support area near the 230.05 level. Then, continued growth to the area above the level of 345.05. An additional signal in favor of Litecoin’s rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 190.05 area. This will indicate a continued decline in cryptocurrency with a target below 105.05.
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