29 January Litecoin price prediction - LTC/BTC forecast


Technically, it seems LTC will rally in the coming days. The following 29 January Litecoin price prediction places LTC/USD and LTC/BTC together and suggest a rally for the two is very likely. 

29 January, AtoZForex - With $10 billion market capitalization, Litecoin has dropped to 8th place. LTC/USD currently trades at $180, being one of the worst hit by the current bearish Crypto market. LTCUSD could still go further downside before the next rally. In the last update on LTC/USD, we used the chart below.

February 2018 litecoin price technical prediction LTCUSD Elliott wave analysis, H2 (click to zoom)

The chart above shows the possibility of a diagonal pattern – this could be a leading diagonal completing wave A of 2. This pattern could complete at $125. If price stays above $125, a rally could happen to $300 in February. This could lead to about 150% rally before the next dip.

The chart above shows an emerging diagonal pattern about to complete. Price could dip to $125 before rallying upside. Could this be sign of a bullish LTC in the coming days/week? Let's check LTC/BTC and see if there is a pattern that supports a bullish move.

29 January Litecoin price prediction - LTC/BTC forecast

29 January Litecoin price prediction LTC/BTC Elliott wave analysis, H2 (click to zoom)

The chart above shows how LTC has fared against BTC since last December. Between 5th and 13th December 2017, LTC/BTC gained about 290%. Since 13th December, price has gone sideways. I have been watching this triangle pattern since the 18th January update (when this pattern was first posted) . There will be a breakout at a point upside or downside. Since the prevailing trend is bullish, it's expected the breakout will more likely be upside. With LTC/USD about completing a diagonal and LTC/BTC completing a bullish triangle, it seems Litecoin could gain significantly this week or next if there is enough momentum in the market. After breakout upside, LTC/BTC will be expected to make a new high above 0.0205 to 0.022 (about 600,000 satoshis away).

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.

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