LTC/USD are trading at 45.56 and continue to move as part of the growth and upward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $2 975 180 578. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices are testing the area between the signal lines down, which indicates pressure from buyers and the potential continuation of growth from current levels. At the moment, we should expect an attempt to reduce the value of the digital asset and test the support level near the 43.45 area. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 57.05.
Litecoin Forecast and LTC/USD Analysis April 10, 2020
In favor of the growth of LTC/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option will be a fall and a breakdown of the area of 39.55. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 30.05. With the breakdown of the resistance area and closing of quotes above the level of 49.05, we should expect confirmation of the development of the upward trend in Litecoin and the beginning of the development of the «Triangle» model.
Litecoin Forecast and LTC/USD Analysis April 10, 2020 implies an attempt to correct and test the support area near the level of 43.45. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 57.05. An additional signal in favor of raising Litecoin 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 area of 39.55. This will indicate a continued decline in cryptocurrency with a target below the level of 30.05.
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