Cryptocurrency Litecoin completes the trading week near the area of 30.68. LTC/USD quotes are traded inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend on Litecoin.
As part of the forecast of the cryptocurrency rate for the next week. Growth attempt and test of the upper limit of the Ichimoku Kinko Hyo Cloud are expected near the level of 36.50. Where should we expect a rebound and an attempt to continue the fall of LTC/USD with the target below the level of 20.00.
Litecoin Weekly Analysis and Forecast January 21 — 25, 2019
An additional signal in favor of the fall of cryptocurrency will be the test of resistance level. As well as the formation of the «Head and Shoulders» reversal pattern. Earlier, a weak signal was received for purchases of Litecoin cryptocurrencies. The signal was formed due to the intersection of the signal lines at 29.00. The nearest resistance area is at 40.00. The area of support for LTC/USD is located at 25.00.
Cancellation of the fall variant of Litecoin will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closure of quotes above the 42.00 area. This will indicate a change in the lateral trend in favor of an upward trend and the abolition of the reversal pattern. Expect to accelerate the fall of cryptocurrency costs with the breakdown of the lower boundary of the indicator cloud and closing below the level of 27.50.
Litecoin Weekly Analysis and Forecast January 21 — 25, 2019 suggests an attempt to develop a correction to the level of 36.50. Where should we expect a rebound and the continuation of the fall of cryptocurrency with a potential target near the level of 20.00. The formation of a reversal pattern will be in favor of the decline. Cancellation of the fall option will be the breakdown of the area 42.00. In this case, we should expect continued growth of Litecoin with a potential target of 53.00.