Litecoin LTC/USD is trading at 77.24. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 80.00 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below 70.00.
Litecoin forecast & analysis LTC/USD August 1, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for purchases of Litecoin cryptocurrency, due to the intersection 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 level of 85.00, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in quotes LTC/USD is with the breakdown of the support area and the closing below the level of 72.00.