Litecoin LTC/USD ends the trading week at 85.57 and continues to move as part of a downward correction and bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines upward. This indicates pressure from buyers of the digital asset and potential continued growth in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 77.35. From where we can again expect a rebound upward and an attempt to continue to grow in the value of Litecoin with a potential target above the level of 112.95.
Litecoin Forecast April 29 — May 3, 2024
An additional signal in favor of growth in LTC/USD quotes in the current trading week April 29 — May 3, 2024 will be a test of the support line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the digital asset Litecoin will be a fall in price and a breakdown of the 65.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 50.45. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 95.05.
Litecoin Forecast April 29 — May 3, 2024 assumes an attempt to test the support area near the level of 77.35. Then, continued growth to the area above the level of 112.95. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 65.05 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 50.45.
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