Litecoin LTC/USD is trading at 136. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near level 135 is expected, from which one should expect a rebound and an attempt to continue LTC/USD growth with a target above 150.
Litecoin forecast & analysis LTC/USD April 18, 2018
An additional signal in favor of the growth of the cryptocurrency is the support level test, as well as the upper bound of the «Triangle» model. Earlier, a weak signal was received for buy of Litecoin, due to the crossing of signal lines at level 115.
Cancellation of the Litecoin growth option will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 120, which will indicate a change 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.
In favor of the growth of the cryptocurrency, the completion of the «Double Bottom» reversal pattern is also coming to an end. The target of working out this model is the area above level 170.
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