Litecoin LTC/USD ends the trading week at the level of 173.01 and continues to move within the correction and the ascending 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 147.05. 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 270.05.
Litecoin Forecast and Analysis March 8 — 12, 2021
An additional signal in favor of raising the LTC/USD quotes in the current trading week on March 8 — 12, 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 105.05 area. This will indicate a breakdown of the support area and a continued fall in the LTC/USD rate below 75.05. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 205.05.
Litecoin Forecast and Analysis March 8 — 12, 2021 implies an attempt to test the support area near the level of 147.05. Then, continued growth to the area above the level of 270.05. An additional signal in favor of Litecoin 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 105.05 area. This will indicate a continued decline in cryptocurrency with a target below 75.05.