Analysis and forecast for trading instrument #Litecoin based on technical analysis Hello everyone! The trading instrument Litecoin is moving within a moderately narrow ascending channel this week. Currently, the price has reached the lower boundary of this range, so it is logical to assume that we will bounce back and aim to break through the upper boundary. Judging by the increasing volumes of trading instrument #Litecoin at the moment, it can be assumed that we will break through the upper boundary and with a good momentum, we will strive to reach the top. However, I am somewhat skeptical about this scenario because last week the price showed a significant decrease, and at the moment it can be said that we are globally in a downtrend, and the current movement fits within the framework of a correction. Moreover, in general, the cryptocurrency market is not very inclined to show any strong bullish trends at the moment, and Litecoin, as we have seen, is growing quite sluggishly. Although we have seen cases where this cryptocurrency lives its own life, I would still prefer to sell from the upper boundaries of the channel.
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