Litecoin LTC/USD ends the trading week at 45.22 and continues to move as part of the correction 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 sellers. At the moment, we should expect an attempt to continue the fall and test the support area near the level of 36.55. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above the level of 85.55.
Litecoin Forecast and Analysis January 13 — 17, 2020
An additional signal in favor of the growth of LTC/USD quotes in the current trading week January 13 — 17, 2020 will be an uptrend line test 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 20.05 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 10.05. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the Klin model and closing quotes above the level of 48.65.
Litecoin Forecast and Analysis January 13 — 17, 2020 implies an attempt to test the support area near the level of 36.55. Then, continued growth to the area above the level of 85.55. 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 20.05. This will indicate a continued fall in cryptocurrency with a target below the level of 10.05.