LTC Heading Upwards

The LTC cryptocurrency preserves the impulse of growth formed at the beginning of the month. On Tuesday morning, January 14th, the LTC is generally trading at $53.46.

On D1, after a convergence on the MACD, the quotations have started to rise, breaking out the resistance line of the descending channel. This signifies the beginning of a correctional trend of growth. The first aim of such growth is at 23.6% ($61.53) Fibo, later they may grow to 38.2% ($77.62) and 50.0% ($90.44). A breakout of the current minimum of $35.82 will signal the continuation of the decline with the aim at the fractal minimum of $22.25.

LTC/USD Daily

On H4, the quotations are testing the resistance line of the current channel of growth. The moment is supported by a Gold Cross forming on the Stochastic. These factors together mean speeding up of the uptrend. The support here is at the lower border of the channel near $47.80.

LTC/USD H4

Fundamentally, LTC dynamics grow less. According to the manager of Litecoin Foundation Franklyn Richards, some 62% of the annual emission of the…

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Source: https://themerkle.com/litecoin-price-analysis-for-january-14th-ltc-heading-upwards/