Litecoin LTC/USD traded at 72.67 and continue to move within the correction and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $4 773 832 716. Moving averages indicate the presence of an upward trend in Litecoin. At the moment, we should expect an attempt to reduce and test the support level near the 72.05 area. Where can we again expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 81.65.
Litecoin Forecast and LTC/USD Analysis May 9, 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 rising channel. The abolition of the growth option will be the fall and the breakdown of the 67.55 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 62.50. With the breakdown of the resistance area and the closure of quotations above 78.55, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 9, 2019 involves an attempt to test the support area near the level of 72.05. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 81.65. 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 67.55 area. This will indicate a continued decline in cryptocurrency with a target below 62.50.
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