Litecoin LTC/USD traded at 116.77 and continue to move within the growth and the upward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $7 272 493 519. Moving averages indicate a bullish trend on Litecoin. At the moment, we can expect an attempt to reduce and test the support level near the area of 109.65. Where can we expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 135.65.
Litecoin Forecast and LTC/USD Analysis May 31, 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. Cancellation of the growth option will be a strong fall and a breakdown of the 100.55 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 90.50. With the breakdown of the area of resistance and the closure of quotations above the area of 121.95, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis May 31, 2019 involves an attempt to test the support area near the level of 109.65. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 135.65. 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 the growth option will be the fall and the breakdown of the area of 100.55. This will indicate a continued decline in cryptocurrency with a target below 90.50.
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