Litecoin LTC/USD traded at 30.30 and continue to move in the framework of growth and the formation of the model «Triangle». Cryptocurrency capitalization at the time of the publication of the forecast is $1 935 051 598. Moving averages indicate a bearish trend in Litecoin. At the moment, we can expect an attempt to test the support level near the 29.50 area. Where can we again expect a rebound and continued growth of the Litecoin rate with the goal above the level of 37.65.
Litecoin forecast & technical analysis January 4, 2019
In favor of the growth of LTC/USD quotes, a test of an uptrend trend line on the relative strength index (RSI) will come out. Cancellation of the growth option will be the fall and the breakdown of the area 27.00. This will indicate a breakdown of the lower boundary of the «Triangle» model and the continuation of the depreciation of the cryptocurrency. With the breakdown of the upper boundary of the model and the closure of quotations above the level of 32.75, we should expect confirmation of the development of the upward trend in Litecoin.
Litecoin forecast & technical analysis January 4, 2019 involves an attempt to test the support area near the level of 29.50. Where can we expect a rebound and continued growth of LTC/USD in the region above the level of 37.65. An additional signal in favor of the growth of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area 27.00. This will indicate a continued decline in cryptocurrency.
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