Litecoin LTC/USD are trading at 90.19 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $5 641 828 243. 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 85.55 area. Where can we expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 125.55.
Litecoin Forecast and LTC/USD Analysis May 21, 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 the growth option will be the fall and the breakdown of the 79.50 area. 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 70.50. With the breakdown of the resistance area and the closure of quotes above the 102.55 area, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 21, 2019 involves an attempt to test the support area near the level of 85.55. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 125.55. 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 79.50 area. This will indicate a continued decline in cryptocurrency with a target below 70.50.
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