Litecoin LTC/USD ends the trading week at 102.64 and continues to move as part of an aggressive growth and the formation of the Triangle 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 price correction and a test of the support area near the level of 90.55. Where can we expect a rebound again and an attempt to continue the growth of the Litecoin value with a potential target above the level of 165.05.
Litecoin Weekly Forecast July 3 — 7, 2023
An additional signal in favor of the growth of LTC/USD quotes in the current trading week July 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 Triangle pattern. Cancellation of the option to raise the Litecoin digital asset will be a price drop and a breakdown of the 63.55 area. This will indicate a breakdown of support and a continued fall in the LTC/USD rate below 50.05. The growth of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 108.05.
Litecoin Weekly Forecast July 3 — 7, 2023 suggests an attempt to test the support area near the level of 90.55. Then, continued growth to the area above the level of 165.05. 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 and a breakdown of the area of 63.55. This will indicate a continued decline in the cryptocurrency with a target below the level of 50.05.
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