Litecoin LTC/USD traded at 72.49 and continue to move within the framework of the correction and the model «Triangle». Cryptocurrency capitalization at the time of the publication of the forecast is $4 534 807 260. Moving averages indicate the bullish trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 71.45. Where can we again expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 83.55.
Litecoin Forecast and LTC/USD Analysis May 10, 2019
In favor of growth in LTC/USD quotes, a test of an uptrend trend 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 growth option will make the fall and the breakdown of 68.45. This will indicate a breakdown of the support level and the continuation of the fall of the cryptocurrency rate with a potential target below the level of 62.50. With the breakdown of the resistance area and the closure of quotations above 77.55, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 10, 2019 involves an attempt to test the support area near the level of 71.45. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 83.55. 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 62.50. This will indicate a continued decline in cryptocurrency with a target below 55.50.
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