Litecoin LTC/USD ends the trading week at 39.41 and continues to move as part of the decline and the formation of the «Wedge» model. Moving averages indicate a bearish trend, which remains quite strong, prices continue to push from the area between the signal lines. This indicates continued pressure from the bears. At the moment, we should expect an attempt to continue the fall and test the support area near the level of 37.55. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above 75.65.
Litecoin Forecast and Analysis December 23 — 27, 2019
An additional signal in favor of the growth of LTC/USD quotes in the current trading week from December 23 — 27, 2019 will be a test of the ascending trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Wedge» model. Cancellation of the Litecoin growth option will be a fall and a breakdown of the 21.05 area. This will indicate a breakdown of the support area and a continuation of the fall in the LTC/USD rate and a fall below the level of 12.05. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the «Wedge» model and closing quotes above 55.55.
Litecoin Forecast and Analysis December 23 — 27, 2019 implies an attempt to test the support area near the level of 37.55. Then, continued growth to the area above the level of 75.65. An additional signal in favor of Litecoin growth will be an uptrend test on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the area of 21.05. This will indicate a continued fall in cryptocurrency with a target below the level of 12.05.
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