The Litecoin cryptocurrency ends the trading week near the area of 345.33. LTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Litecoin. As part of the forecast of the cryptocurrency exchange rate for the next week on May 10-14, 2021. An attempt is expected to develop a correction and test the area of the indicator's signal lines near the level of 305.05. From where we should expect a rebound and an attempt to grow LTC / USD with a goal above the level of 475.05.
Cryptocurrency Litecoin forecast for the week of May 10-14, 2021
An additional signal in favor of the rise of the cryptocurrency will be a test of the support level. The second signal will be a rebound from the lower border of the ascending channel. Earlier, a medium-strength signal was received for purchases of the Litecoin cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 185.05. The nearest resistance area is located at the level of 375.05. The support area for LTC / USD is located at the level of 255.05.
Cryptocurrency Litecoin signal for the week of May 10-14, 2021
The cancellation of the Litecoin growth option will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 215.05 area. This will indicate a change in the bullish trend in favor of the bearish trend and a continuation of the fall. Expect an acceleration in the growth of the cryptocurrency with a breakdown of the resistance area and a close above the level of 425.05.
Thus, the Litecoin exchange rate forecast for the week of May 10-14, 2021 suggests an attempt to develop a correction to the level of 305.05. Where should we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 475.05. The rebound from the lower border of the ascending channel will be in favor of the rise. The cancellation of the growth option of the coin rate will be a fall and a breakdown of the 215.05 area. In this case, we should expect the Litecoin digital currency to continue falling, with a potential target at 75.05.