Litecoin LTC/USD traded at 29.04 and continue to move in the framework of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $1 860 969 726. Moving averages indicate a downward trend in Litecoin. At the moment, we should expect an attempt to test the resistance level near 29.45. Where once again we should expect a rebound and the continuation of the fall of the Litecoin course with the goal below the level of 27.55.
Litecoin Forecast and LTC/USD Analysis January 23, 2019
In favor of reducing the LTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. Cancellation of the fall option will be a strong growth and the breakdown of the 30.00 area. This will indicate a breakdown of resistance and continued growth of the cryptocurrency rate. With the breakdown of the lower boundary of the «Triangle» model and the closure of quotes below the level of 28.40, we should expect confirmation of the development of the downward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis January 23, 2019 involves an attempt to test the resistance area near the level of 29.45. Where can we expect a rebound and the continuation of the fall of LTC/USD in the region below the level of 27.55. 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 area 30.00. This will indicate continued growth of cryptocurrency.
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