LTC/USD are trading at 57.04 and continue to move as part of the growth and upward channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $3 670 417 344. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices are located far from the area between the signal lines, which indicates pressure from buyers. At the moment, we should expect an attempt to reduce the asset and test the support level near the area of 50.05. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 74.05.
Litecoin Forecast and LTC/USD Analysis January 16, 2020
In favor of the growth of LTC/USD quotes, a test of the upward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option will be a fall and a breakdown of the area of 45.05. This will indicate a breakdown of the support area and the acceleration of the fall of the cryptocurrency rate with a potential target below the level of 35.05. With the breakdown of the resistance area and the closing of quotes above 62.05, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis January 16, 2020 implies an attempt to correct and test the support area near the level of 50.05. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 74.05. An additional signal in favor of raising Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 45.05. This will indicate a continued decline in cryptocurrency with a target below the level of 35.05.
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