Cryptocurrency Litecoin completes the trading week near the 55 area. LTC/USD quotes are traded below the lower border of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Litecoin. As part of the cryptocurrency rate forecast for the next week September 19 — 23, 2022. An attempt is expected to develop a price increase and test the upper border of the Ichimoku indicator cloud near the level of 58. Where should we expect a rebound down and an attempt to continue the fall of the LTC/USD rate with a potential target below the level of 35.
Litecoin Analysis September 19 — 23, 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 upper border of the descending channel. Earlier, a signal of medium strength was received for purchases of the Litecoin cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 56. The nearest resistance area for Litecoin is at the level of 59. The support area for LTC/USD is at the level of 45.
Cancellation of the Litecoin fall option in the current trading week will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the 65 area. This will indicate a change in the downward trend in favor of a bullish trend and continued growth of the coin in price. It is worth expecting an acceleration in the fall of the cryptocurrency with a breakdown of the support area and closing below the level of 46, which will indicate a breakdown of the lower border of the bullish channel.
Litecoin Analysis September 19 — 23, 2022 suggests an attempt to develop a correction to the level of 58. Where should we expect a rebound and continued growth of the cryptocurrency with a potential target near the level of 35. 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 65 area. In this case, we should expect the Litecoin digital currency to continue to decline with a potential target at the level of 25.