LTC/USD are trading at 61.38 and continue to move as part of the growth and bullish channel. Litecoin cryptocurrency capitalization at the time of the publication of the forecast is $4 073 632 553. Moving averages indicate the presence of a short-term bullish trend in Litecoin. Prices again pushed from the area between the signal lines, indicating pressure from buyers. At the moment, we should expect an attempt to reduce the asset and test the support level near the area of 55.65. Where again we should expect a rebound and continued growth of the Litecoin rate with a potential target above the level of 80.05.
Litecoin Forecast and LTC/USD Analysis January 31, 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 50.75. This will indicate a breakdown of the support area and the acceleration of the cryptocurrency rate drop with a potential target below the level of 40.05. With the breakdown of the resistance area and the closing of quotes above 65.05, we should expect confirmation of the development of an upward trend in Litecoin.
Litecoin Forecast and LTC/USD Analysis January 31, 2020 implies an attempt to correct and test the support area near the level of 55.65. Where can we expect a rebound and continued growth of LTC/USD to the area above the level of 80.05. 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 50.75. This will indicate a continued decline in cryptocurrency with a target below the level of 40.05.
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