Litecoin LTC/USD is trading at the level of 50.99. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. As part of the forecast for the digital currency, the Ichimoku Kinko Hyo signal line area test is expected near the 53.00 level, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below 40.00.
Litecoin forecast & analysis LTC/USD August 15, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will come from a rebound from the upper boundary of the bearish channel, as well as a rebound from the resistance level. Earlier, a weak signal was received for sell of Litecoin cryptocurrency, due to crossing of signal lines at the level of 83.50.
The abolition of the Litecoin cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the 66.00 level, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the crypto currency. Expect the acceleration of the drop in LTC/USD quotations with the breakdown of the support area and the closing below 46.00.
Litecoin forecast & analysis LTC/USD August 15, 2018 suggests an attempt to develop correction of the cryptocurrency and test level 53.00, where we can expect the continuation of the fall of the Litecoin exchange rate with the potential target near the level of 40.00, the abolition of the decline option will perform a strong growth and breakdown of the 66.00 area.
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