Litecoin LTC/USD are trading at 72.46 and continue to move as part of a decline and a bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $4 541 196 058. Moving averages indicate the presence of a bullish trend in Litecoin. At the moment, we should expect an attempt to test the support level near 70.50. From where it is again necessary to expect a rebound and the continuation of the growth of the Litecoin rate with the goal above the level 81.55.
Litecoin Forecast and LTC/USD Analysis May 7, 2019
The test of the broken trend line on the relative strength index (RSI) will be in favor of LTC/USD quotes growth. The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of growth options will fall and the breakdown of the 67.05 area. This will indicate a breakdown of the support area and the continuation of the fall of the cryptocurrency rate. With the breakdown of the resistance area and the closure of quotations above the 76.55 area, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 7, 2019 involves an attempt to test the support area near the level of 70.50. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 81.55. 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 growth options will fall and the breakdown of the 67.05 area. This will indicate a continued decline in cryptocurrency.
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