Litecoin LTC/USD completes the trading week at 138.97 and continues to move within the growth and upward channel. Moving averages indicate a bullish trend. Prices moved up from the area between the signal lines. 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 correction and a test of the support area near the level of 120.05. Where can we expect a rebound again and an attempt to increase the fall in the value of Litecoin with a potential target above the level of 205.05.
Litecoin Forecast and Analysis February 1 — 5, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week February 1 — 5, 2021 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Litecoin digital asset will be a fall in prices and a breakdown of the 95.00 area. This will indicate a breakdown of the support area and a continued fall in the LTC/USD rate below 65.05. Confirmation of the rise in cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 175.05.
Litecoin Forecast and Analysis February 1 — 5, 2021 implies an attempt to test the support area near the level of 120.05. Then, continued growth to the area above the level of 205.05. An additional signal in favor of Litecoin’s rise 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 95.00 area. This will indicate a continued decline in cryptocurrency with a target below 65.05.