Litecoin LTC/USD ends the trading week at 163.55 and continues to move within the correction and the bullish channel. 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 down again and an attempt to fall in the value of Litecoin with a potential target below the level of 85.55.
Litecoin Weekly Forecast January 3 — 7, 2022
An additional signal in favor of a fall in LTC/USD quotes in the current trading week o January 3 — 7, 2022 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to reduce the Litecoin digital asset will be a strong growth in price and a breakdown of the 245.05 area. This will indicate a breakdown of resistance and a continued rise in the LTC/USD rate above the level of 325.05. 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 January 3 — 7, 2022 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 85.55. 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 245.05 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 325.05.
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