The Litecoin rate forecast for 01/29/2021 is based on the LTC/USD 131 rate. The cryptocurrency is in a state of short-term rollback within the medium-term downtrend. The trend changed to a downward one after the global reversal of the entire cryptocurrency market.
LTC USD quotes are below the Ichimoku cloud, which confirms the downward trend in the cryptocurrency.
The support level is at 118, which is the extreme low for LTCUSD. This is followed by the level 111. The level of $ 111 was already tested during the fall in the Litecoin rate, and was able to resist.
Resistance levels are 133 and 140. At around 140-142 is the Ichimoku cloud, as well as the upper border of the descending channel. Level 133 is the red slow signal line of the Ichimoku indicator.
The LTC/USD rate forecast for January 29 suggests a short-term fall in the Litecoin rate to the 110 area.