Litecoin LTC/USD ends the trading week at 88.17 and continues to move as part of the correction and the formation of the Head and Shoulders reversal pattern. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines up. This indicates pressure from buyers of the digital asset and the potential continued growth of the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a rise in prices and a test of the resistance area near the level of 92.65. Where should we expect a downward rebound again and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 43.55.
Litecoin Weekly Forecast April 3 — 7, 2023
An additional signal in favor of a decrease in LTC/USD quotes in the current trading week April 3 — 7, 2023 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Head and Shoulders reversal pattern. Cancellation of the option of falling Litecoin digital asset will be a strong price increase and a breakdown of the 125.05 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 165.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 64.05, which will indicate a breakdown of the lower boundary of the Head and Shoulders reversal pattern and the beginning of the pattern with targets below.
Litecoin Weekly Forecast April 3 — 7, 2023 suggests an attempt to test the resistance area near the level of 92.65. Then, the continuation of the fall to the area below the level of 43.55. An additional signal in favor of Litecoin’s decline 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 area of 125.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 165.05.
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