Litecoin LTC/USD is trading at the level of 129. The cryptocurrency is traded above the upper boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the 120 level, from which it is expected to rebound and try to continue the growth of LTC/USD with a target above the level of 145.
Litecoin forecast & analysis LTC/USD April 16, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level, as well as a test of the lower boundary of the channel. Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 115.
The abolition of Litecoin’s growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below area 115, which will indicate a shift in the bullish trend in favor of a bearish trend. Expect the acceleration of LTC/USD quotes growth with the breakdown of the resistance area and the closing above the level of 140, which will indicate the completion of the reversal pattern «Double Bottom». The target of working out this model is the area above level 170.
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