Litecoin LTC/USD ends the trading week at 30.93 and continues to move as part of the correction and the formation of a reversal pattern. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to test the resistance area near the level of 32.50. Where can we expect a rebound again and an attempt to continue the decline of Litecoin with a target below the level of 18.50.
Litecoin Forecast and Analysis January 28 — February 1, 2019
In favor of lowering the LTC/USD quotes in the current trading week of January 28 — February 1, 2019, a resistance line test on the relative strength index (RSI) will come out. As well as the formation of the «Head and Shoulders» reversal pattern. Cancellation of the fall option Litecoin will be a strong growth and the breakdown of the area of 41.00. This will indicate a breakdown of the upper limit of the model and continued growth of LTC/USD. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 25.50.
Litecoin Forecast and Analysis January 28 — February 1, 2019 involves an attempt to test the resistance area near the level of 32.50. Then the continuation of the fall in the area below the level of 18.50. An additional signal in favor of Litecoin’s decline is the test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the 41.00 area. This will indicate the continued growth of cryptocurrency.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
