Litecoin LTC/USD ends the trading week at 76.38 and continues to move within the fall and left the bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines downwards. This indicates pressure from sellers of the digital asset and a potential continuation of the fall in the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop price growth and test the resistance area near the level of 83.65. Where can we again expect a downward rebound and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 53.05.
Litecoin Forecast May 6 — 10, 2024
An additional signal in favor of a fall in LTC/USD quotes in the current trading week of May 6 — 10, 2024 will be a test of the resistance 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 fall option for the digital asset Litecoin will be a strong rise in price and a breakdown of the 95.65 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 110.05. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 66.05, which will indicate a breakdown of the lower boundary of the bullish channel.
Litecoin Forecast May 6 — 10, 2024 suggests an attempt to test the resistance area near the level of 83.65. Then, continuation of the fall to the area below the level of 53.05. An additional signal in favor of a decline in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 95.65 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 110.05.
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