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Litecoin LTC / USD Forecast and Analysis January 20, 2021

The Litecoin cryptocurrency rate is now $ 160. The cryptocurrency has grown by 6% in the past 24 hours, however, the LTC / USD quotes are still inside the triangle, and while testing the resistance level 186, the maximum of January 10, is out of the question.

Litecoin, from the very first day of its existence, repeats for Bitcoin, and in fact is its exact copy with a different name. Therefore, the current price, in comparison with the quotes of 2017, in the golden era of cryptocurrencies, shows that Litecoin was then overvalued. Its rate is still 2 times less than it was during its heyday.

Ethereum, on the other hand, is already worth over 1,400, which is more than it was worth during the 2017 bitcoin rush.

Litecoin LTC/USD Forecast and Analysis

Litecoin quotes are above the Ichimoku cloud. The blue fast signal line of the indicator crossed the red slow one from the bottom up, which indicates a short-term upward trend for Litecoin.

The closest resistance level to the current price is $ 165. Breaking this level and securing the cryptocurrency rate higher will open the way to the important resistance level 172.

The nearest support level is at 149 (upper border of the Ichimoku cloud). The trend line is also an important support level, the Litecoin price has tested it more than once by drawing a triangle that you see on the chart.

Thus, the Litecoin rate forecast for 20.0.12021 assumes a short-term pullback to the support level, with a further increase in the LTC / USD rate and an attempt by the Litecoin price to gain a foothold above 165.

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