Cryptocurrency Litecoin ends the trading week near the 63 area. LTC/USD quotes are trading below the lower boundary 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 11 — 15, 2023. An attempt to develop a price correction and a test of the Ichimoku indicator signal line area near level 66 are expected. Where can we expect a downward rebound and an attempt to continue the fall of the LTC/USD rate with a potential target below level 40.
Litecoin Forecast September 11 — 15, 2023
A strong signal in favor of a fall in the cryptocurrency will be a test of the resistance level on the asset’s chart. The second signal will be a rebound from the upper border of the bearish channel. Previously, a weak signal was received for sales of the Litecoin cryptocurrency. The signal was formed due to the intersection of signal lines at level 96. The nearest resistance area for Litecoin is located at level 75. The support area for LTC/USD is located at level 56.
Cancellation of the fall option for Litecoin in the current trading week will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the area of 95. This will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the coin in price. Expect an acceleration in the fall of the cryptocurrency with a breakdown of the support area and closing of the price below level 55.
Litecoin Forecast September 11 — 15, 2023 assumes an attempt to develop a correction to level 66. From where we can expect a rebound downwards and a continuation of the fall of the cryptocurrency with a potential target near level 40. A rebound from the lower border of the bullish channel will be in favor of the rise. Cancellation of the option to reduce the coin exchange rate will be a strong growth and a breakdown of the area of 95. In this case, we should expect continued growth of the digital currency Litecoin with a potential target at 125.
