Litecoin LTC/USD ends the trading week at 122.20 and continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices are again testing the area between the signal lines. 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 a bullish price correction and a test of the resistance area near the level of 155.05. Where can we expect a rebound down again and an attempt to drop the value of Litecoin with a potential target below the level of 55.05.
Litecoin Weekly Forecast April 4 — 8, 2022
An additional signal in favor of falling LTC/USD quotes in the current trading week April 4 — 8, 2022 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the resistance area on the price chart. Cancellation of the option to reduce the digital asset Litecoin will be a strong price increase and a breakdown of the 205.05 area. This will indicate a breakdown of resistance and a continuation of the rise in the LTC/USD rate above the level of 325.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 95.05.
Litecoin Weekly Forecast April 4 — 8, 2022 suggests an attempt to test the resistance area near the level of 155.05. Then, the continuation of the fall to the area below the level of 55.05. 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 205.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 325.05.
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