Litecoin LTC/USD ends the trading week at 198.73 and continues to move within the growth and bullish channel, but now there is a rebound after updating the local maximum. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upwards. This indicates pressure from buyers of the digital asset and a potential continuation of the decline in 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 145.05. Where can we expect a rebound again and an attempt to raise the value of Litecoin with a potential target above the level of 305.05.
Litecoin Forecast and Analysis November 1 — 5, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week November 1 — 5, 2021 will be a test of the support line on the relative strength index (RSI). Now the values of the RSI indicator have risen to the level of 70, therefore, there may be a fall before the continued growth of the coin quotes. 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 95.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 55.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 255.05.
Litecoin Forecast and Analysis November 1 — 5, 2021 implies an attempt to test the support area near the level of 145.05. Then, continued growth to the area above the level of 305.05. 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 95.05 area. This will indicate a continued decline in cryptocurrency with a target below 55.05.
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