Cryptocurrency Litecoin is trading at 62 and continues to move within a strong bullish correction and bearish channel. LTC/USD quotes are moving below the lower boundary of the Cloud of the Ichimoku Kinko Hyo technical indicator. This indicates a bearish trend in the cryptocurrency. As part of the Litecoin price forecast for September 15, 2023. An attempt to develop growth and a test of the upper limit of the Cloud of the Ichimoku Kinko Hyo indicator near level 63 are expected. Where can we expect a rebound downward and an attempt to continue the fall of the LTC/USD asset with a target below level 53.
Litecoin Forecast and Analysis for September 15, 2023
An additional signal in favor of a decline in the Litecoin cryptocurrency in the markets will be a test of the resistance area on the cryptocurrency price chart. The second signal in favor of this scenario will be a rebound from the upper border of the downward channel. Previously, a strong signal was received for the sale of the Litecoin cryptocurrency. The signal was formed due to the intersection of signal lines at level 63. The nearest resistance area for Litecoin on the cryptocurrency chart is at level 65. The support area for LTC/USD is at level 56.
Cancellation of the option for the fall of the Litecoin cryptocurrency will be a strong growth and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the level of 66. This option will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the cryptocurrency. Expect an acceleration in the fall of LTC/USD quotes with a breakdown of the support area and closing of prices below level 60, which will indicate a breakdown of the lower boundary of the correction channel.
Litecoin Forecast and Analysis for September 15, 2023 assumes an attempt to correct the cryptocurrency and test level 63. Where can we expect a continuation of the fall in the Litecoin rate with a potential target near level 53. The cancellation of the reduction option will be a strong growth and a breakdown of the 66 area. What will indicate to continue the rise of the cryptocurrency with a target above the level of 75.
