LTC/USD are trading at 76.51 and continue to move within the growth and bullish channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $5,504,018,875. Moving averages indicate a short-term bearish trend for Litecoin. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a correction of the digital asset and a test of the support level near the area of 72.05. Whence again we should expect the continuation of the growth of the coin to the level of 94.05.
Litecoin Forecast January 5, 2023
An additional signal in favor of the rise in LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, which was broken by buyers at the top. Cancellation of the growth option of the coin will be the fall in the value of the asset and the breakdown of the area of 62.05. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 50.05. With the breakdown of the resistance area and the closing of quotes above the level of 64.05, we should expect confirmation of the development of a bullish trend for Litecoin.
Litecoin Forecast January 5, 2023 suggests an attempt to correct and test the support area near the level of 72.05. Where should we expect a rebound and continued growth in the price of LTC/USD to the area above the level of 94.05. An additional signal in favor of the rise of the Litecoin cryptocurrency 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 62.05. This will indicate a continued decline in the cryptocurrency with a target below the level of 50.05.
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