Litecoin LTC/USD is traded at the level of 220. The cryptocurrency is traded below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend for Litecoin. Ichimoku Kinko Hyo Cloud is expected to be tested near the 235 level, from which we expect a rebound and an attempt to continue the decline of LTC/USD with a target below the level of 175. Earlier we received a weak signal for the sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 240.
Litecoin forecast & analysis LTC/USD on January 11, 2018
Cancellation of the Litecoin fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 245, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of the cryptocurrency LTC/USD is at the level breakdown of 195.
It is not necessary to exclude the attempt to form the reversal model «Head and Shoulders». In this case, you should expect a test of level 240 and an attempt to drop quotations in the area below the level of 155. Canceling the version of the model’s test will break through the area of 275, indicating that the growth continues.