Cryptocurrency Litecoin completes the trading week near the 60 area. LTC/USD quotes are traded inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a sideways trend for Litecoin. As part of the cryptocurrency exchange rate forecast for the next week, September 12 — 16, 2022. An attempt is expected to develop a fall in prices and test the lower border of the Ichimoku indicator Cloud near the level of 55. Where should we expect a rebound upwards and an attempt to continue the growth of the LTC/USD rate with a potential target above the level of 80.
Litecoin Analysis September 12 — 16, 2022
A strong signal in favor of the growth of the cryptocurrency will be a test of the support level on the asset chart. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a weak signal was received for the sale of the Litecoin cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 59. The nearest area of resistance for Litecoin is at the level of 70. The area of support for LTC/USD is at the level of 50.
Cancellation of the growth option for Litecoin in the current trading week will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the 45 area. This will indicate a change in the lateral trend in favor of a bearish trend and the coin will continue to fall in price. It is worth expecting an acceleration in the growth of the cryptocurrency with a breakdown of the resistance area and closing above the level of 65.
Litecoin Analysis September 12 — 16, 2022 suggests an attempt to develop a correction to the level of 55. Where should we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 80. A rebound from the lower border of the bullish channel will come out in favor of the rise. Cancellation of the growth option for the coin will be a fall and a breakdown of the 45 area. In this case, we should expect the Litecoin digital currency to continue to decline with a potential target at the level of 25.