Litecoin LTC/USD closes the trading week at 60.88 and continues to move as part of strong growth and the beginning of the development of the «Wedge» model. Moving averages indicate a bearish trend, which remains strong. Prices are again testing the area between the signal lines. This indicates continued pressure from sellers. At the moment, we should expect an attempt to fall and test the support area near the level of 40.65. Where again we should expect a rebound and an attempt to start Litecoin growth with a potential target above 115.55.
Litecoin Forecast and Analysis January 20 — 24, 2020
An additional signal in favor of the growth of LTC/USD quotes in the current trading week January 20 — 24, 2020 will be a test of the broken trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the «Wedge» model. Cancellation of the Litecoin growth option will be a fall and a breakdown of the 30.05 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 15.05. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 55.05.
Litecoin Forecast and Analysis January 20 — 24, 2020 implies an attempt to test the support area near the level of 40.65. Then, continued growth to the area above the level of 115.55. 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 30.05. This will indicate a continued fall in cryptocurrency with a target below the level of 15.05.
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