Litecoin LTC/USD ends the trading week at 84.19 and continues to move within the growth and bullish channel. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines up. This indicates pressure from buyers of the digital asset and the potential continued growth of the Litecoin rate in the current trading week. At the moment, we should expect an attempt to develop a rise in prices and a test of the resistance area near the level of 90.05. Where should we expect a downward rebound again and an attempt to continue the fall in the value of Litecoin with a potential target below the level of 36.55.
Litecoin Forecast January 16 — 20, 2023
An additional signal in favor of a decrease in LTC/USD quotes in the current trading January 16 — 20, 2023 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bullish channel. Cancellation of the option of falling Litecoin digital asset will be a strong price increase and a breakdown of the 110.05 area. This will indicate a breakdown of resistance and continued growth of the LTC/USD rate above the level of 175.05. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 40.55, which will indicate a breakdown of the lower border of the bullish correction channel.
Litecoin Forecast January 16 — 20, 2023 suggests an attempt to test the resistance area near the level of 90.05. Then, the continuation of the fall to the area below the level of 36.55. An additional signal in favor of Litecoin’s decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 110.05. This will indicate a continued rise in the cryptocurrency with a target above the level of 175.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link