LTC/USD are trading at 47.17 and continue to move as part of the growth and formation of the «Triangle» model. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 095 858 047. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices have gone far up from the area between the signal lines, which indicates pressure from buyers of the asset. At the moment, we should expect an attempt to drop the value of the digital asset and a test of the support level near the area of 45.35. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 53.05.
Litecoin Forecast and LTC/USD Analysis June 5, 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 «Triangle» model. Cancellation of the growth option will be a fall and a breakdown of the area of 43.25. This will indicate a breakdown of the support area and the acceleration of the cryptocurrency rate drop with a potential target below the level of 35.05. With the breakdown of the resistance area and the closing of quotations above the level of 52.05, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis June 5, 2020 involves an attempt to correct and test the support area near the level of 45.35. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 53.05. 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 43.25. This will indicate a continued fall in cryptocurrency with a target below the level of 35.05.
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