Litecoin LTC/USD ends the trading week at 163.55 and continues to move within the fall and the bullish channel. However, it should be noted that buyers are trying to maintain the next level of support. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines down. This indicates pressure from sellers of the digital asset and a potential continuation of the Litecoin rate decline in the current trading week. At the moment, we should expect an attempt to develop the price growth and test the resistance area near the level of 185.05. Where can we expect a rebound again and an attempt to fall in the value of Litecoin with a potential target below the level of 90.05.
Litecoin Weekly Forecast December 27 — 31, 2021
An additional signal in favor of a fall in LTC/USD quotes in the current trading week December 27 — 31, 2021 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option to reduce the Litecoin digital asset will be a strong growth in price and a breakdown of the 265.05 area. This will indicate a breakdown of resistance and a continued rise in the LTC/USD rate above the level of 365.05. Confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 125.05, which will indicate a breakdown of the bullish correction channel.
Litecoin Weekly Forecast December 27 — 31, 2021 implies an attempt to test the resistance area near the level of 185.05. Then, the continuation of the fall to the area below the level of 90.05. An additional signal in favor of a decline in Litecoin 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 265.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 365.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
