Cryptocurrency Litecoin ends the trading week near the 84 area. LTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for Litecoin. As part of the cryptocurrency rate forecast for the next week, March 25 — 29, 2024. An attempt to develop a price correction and a test of the upper limit of the Ichimoku indicator Cloud near the level of 85 are expected. Where can we expect a rebound upward and an attempt to continue the growth of the LTC/USD rate with a potential target above the level of 110.
Litecoin Forecast March 25 — 29, 2024
A strong signal in favor of the rise of the cryptocurrency will be a test of the support level on the asset’s chart. The second signal will be a rebound from the lower border of the bullish 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 69. The nearest resistance area for Litecoin is located at level 105. The support area for LTC/USD is located at level 82.
Cancellation of the growth option for Litecoin in the current trading week will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the area of 62. This will indicate a change in the bullish trend in favor of a bearish trend and a continuation of the coin’s fall in price. Expect an acceleration in the growth of the cryptocurrency with a breakdown of the resistance area and closing of the price above the level of 97, which will indicate a breakdown of the upper boundary of the downward correction channel.
Litecoin Forecast March 25 — 29, 2024 assumes an attempt to develop a correction to level 85. From where we can expect a rebound downwards and continued growth of the cryptocurrency with a potential target near level 110. A rebound from the lower border of the bullish channel will be in favor of the rise. Cancellation of the coin rate growth option will be a fall and a breakdown of the 62 area. In this case, we should expect a continued decline in the Litecoin digital currency with a potential target at 50.
