15 January Litecoin price prediction – LTC/USD and LTC/BTC Forecast

Litecoin has been one of the poor performing coins since the turn of the year. There is a big possibility of a strong move after a breakout. Where will price breakout? 15 January Litecoin price prediction look closely at LTC/BTC and LTC/USD forecast.

15 January, AtoZForex  – Litecoin, unlike Ethereum and Ripple, has dragged along with Bitcoin. Both having similar recovery wave pattern after last December price fall in the market. LTC/USD like BTC/USD has been sideways in form of a triangle pattern. The triangle is taking more time and getting bigger. The eventual breakout is expected to be big. The sideway move in LTC/USD and BTC/USD is also reflected on LTC/BTC which is completing the same triangle pattern.

A similar triangle pattern was seen in Ethereum in most part of the first half of  the year 2017.  The low of the triangle was around $175 while the highest price before the triangle was $420. After the breakout, ETH/USD has not looked back – making new highs. It rallied and peaked at $1430 this year. Will the same happen with LTC/USD and LTC/BTC? Let’s check the triangles first.

15 January Litecoin price prediction – LTC/BTC Forecast

15 January Litecoin price prediction LTC/BTC price chart, H2 (click to zoom)

The chart above shows a triangle about to complete the last leg. The prevailing trend is bullish and this is expected to be followed by a breakout upside. If this pair rallies this way, it thus means that Bitcoin could drop further to $8000-$9000 or Litecoin will have a strong bullish move. Let’s check LTC/USD below.

15 January Litecoin price prediction – LTC/USD Forecast

15 January Litecoin price prediction LTC/USD price chart, H2 (click to zoom)

The chart above also shows a triangle pattern. The pattern was labelled wave (b) of a 3-wave correction that could complete at $120 before the rally resumes. It should be noted also that, like LTC/BTC, the major trend before the triangle is bullish. A 3-wave dip may not happen to $120 unless there is a good breakout downside. If we can use LTC/BTC as a parameter, then we could say that price has a higher chance of breaking upside. Similar pattern was seen on Ripple at the first days of this year. The breakout eventually happened upside. Will this case be the same?

Do you have other views in contrast to the ones listed or you want to compliment them further? let’s know by your comment below.

Don’t forget to share this analysis with people that matter to you.

    Share Your Opinion, Write a Comment