Litecoin LTC/USD traded at 110.75 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $6 962 098 984. Moving averages indicate a bullish trend on Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 100.85. Where can we expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 135.55.
Litecoin Forecast and LTC/USD Analysis June 4, 2019
In favor of the growth of LTC/USD quotes, the upward support line test on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option will be a strong decline and a breakdown of the 87.55 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the cryptocurrency rate with a potential target below the level of 80.50. With the breakdown of the resistance area and the closing of quotations above the 122.65 area, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis June 4, 2019 involves an attempt to test the support area near the level of 100.85. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 135.55. An additional signal in favor of growth 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 87.55. This will indicate a continued decline in cryptocurrency with a target below the level of 80.50.
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