Litecoin LTC/USD ends the trading week at 83.09 and continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines. 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 correction and test the support area near the level of 75.05. 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 112.05.
Litecoin Forecast May 20 — 24, 2024
An additional signal in favor of growth in LTC/USD quotes in the current trading week of May 20 — 24, 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 60.05 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below the level of 45.05. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 91.55.
Litecoin Forecast May 20 — 24, 2024 assumes an attempt to test the support area near the level of 75.05. Then, continued growth to the area above the level of 112.05. 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 in price and a breakdown of the 60.05 area. This will indicate a continued decline in the cryptocurrency with a target below the level of 45.05.
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