Litecoin LTC/USD ends the trading week at 30.62 and continues to move as part of the correction and the formation of the «Triangle» model. Moving averages indicate a bearish trend. At the moment, we can expect an attempt to test the support area near the level of 28.50. Where can we expect a rebound again and an attempt to continue growth on Litecoin with a target above the level of 38.50.
Litecoin weekly forecast & analysis January 7 — 11, 2019
In favor of the growth of LTC/USD quotes in the current trading week of January 7 — 11, 2019, a test of the support line on the relative strength index (RSI) will be made. Abolition of growth options Litecoin will fall and the breakdown of the area 24.00. This will indicate a breakdown of the lower boundary of the Triangle model and a continued decline in LTC/USD. A confirmation of the growth of cryptocurrency will be a breakdown of the upper limit of the model and closing of quotes above the level of 32.00.
Litecoin weekly forecast & analysis January 7 — 11, 2019 involves an attempt to test the support area near the level of 28.50. Then continued growth in the region above the level of 38.50. 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 growth option will make the fall and the breakdown of the area 24.00. This will indicate a continued decline in cryptocurrency.
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