Litecoin LTC/USD are trading at 86.14 and continue to move as part of the correction and the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $5 353 801 589. Moving averages indicate a bullish trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the 81.75 area. Where can we expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 105.55.
Litecoin Forecast and LTC/USD Analysis May 24, 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 the area 78.50. 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 72.50. With the breakdown of the resistance area and the closing of quotations above the 95.55 area, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 24, 2019 involves an attempt to test the support area near the level of 81.75. Where can we expect a rebound and continued growth of LTC/USD in the area above the level of 105.55. 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 78.50 area. This will indicate a continued decline in cryptocurrency with a target below 72.50.
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