LTC/USD are trading at 87.50 and continue to move as part of the development of a downward correction and a bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $6,385,913,852. Moving averages indicate the presence of a short-term bullish trend for Litecoin. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall from current levels. At the moment, we should expect an attempt to develop a correction of the digital asset and a test of the support level near the area of 86.15. Whence again we should expect the continuation of the growth of the coin to the level of 120.45.
Litecoin Forecast for April 26, 2023
An additional signal in favor of the rise in LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option of the coin will be the fall in the value of the asset and the breakdown of the area of 76.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 65.05. With the breakdown of the resistance area and the closing of quotes above the level of 95.05, we should expect confirmation of the development of a bullish movement in the Litecoin cryptocurrency.
Litecoin Forecast for April 26, 2023 suggests an attempt to correct and test the resistance area near the level of 86.15. Where should we expect a rebound and a continuation of the fall in the price of LTC/USD to the area below the level of 120.45. An additional signal in favor of the rise of the Litecoin cryptocurrency 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 support area of 76.05. This will indicate a continued decline in the cryptocurrency with a target below the level of 65.05.
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