Cryptocurrency Litecoin is trading at 89 and continues to move as part of the growth development and has left the bearish channel. LTC/USD quotes are moving above the upper limit of the Cloud of the Ichimoku Kinko Hyo technical indicator. This indicates a bullish trend in the cryptocurrency. As part of the Litecoin price forecast for March 27, 2024. An attempt to develop a bearish correction and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near level 87 are expected. Where can we expect a rebound upward and an attempt to continue the growth of the LTC/USD asset with a target above level 105.
Litecoin Forecast and Analysis for March 27, 2024
An additional signal in favor of the growth of the Litecoin cryptocurrency in the markets will be a test of the support area on the cryptocurrency price chart. The second signal in favor of this scenario will be a rebound from the upper border of the bearish channel. Previously, a weak signal was received for purchases of the Litecoin cryptocurrency. The signal was formed due to the intersection of signal lines at level 81. The nearest resistance area for Litecoin on the cryptocurrency chart is at level 96. The support area for LTC/USD is at level 83.
Cancellation of the growth option for the Litecoin cryptocurrency will be a fall and a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the level of 77. This option will indicate a change in the bullish trend in favor of a bearish trend and a continuation of the fall of the cryptocurrency. Expect an acceleration in the growth of LTC/USD quotes with a breakdown of the resistance area and closing of prices above the level of 97, which will indicate a breakdown of the upper boundary of the downward channel.
Litecoin Forecast and Analysis for March 27, 2024 suggests an attempt to develop a bearish correction of the cryptocurrency and a test of level 87. Where can we expect continued growth of Litecoin with a potential target near level 105. The cancellation of the rise option will be a fall and a breakdown of the area 77. What will indicate to continue the decline of the cryptocurrency with a target below the level of 65.
