Litecoin LTC/USD are trading at 29.57 and continue to move as part of the correction and the formation of the «Head and Shoulders» reversal pattern. Cryptocurrency capitalization at the time of the publication of the forecast is $1 904 850 402. Moving averages indicate a bearish trend in Litecoin. At the moment, we should expect an attempt to test the resistance level near the 30.75 area. From where it is again necessary to expect a rebound and the continuation of the fall of the Litecoin course with the goal below the level of 24.45.
Litecoin Forecast and LTC/USD Analysis February 1, 2019
In favor of lowering LTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. As well as the formation of a reversal pattern. Cancellation of the fall option will be a strong growth and the breakdown of the 33.55 area. This will indicate a breakdown of resistance and continued growth of the cryptocurrency rate. With the breakdown of the support area and closing of quotes below the level of 27.50, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis February 1, 2019 involves an attempt to test the resistance area near the level of 30.75. Where can we expect a rebound and the continuation of the fall of LTC/USD in the area below 24.45. An additional signal in favor of Litecoin’s fall is a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the 33.55 area. This will indicate the continued growth of cryptocurrency.
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