Litecoin LTC/USD is trading at the level of 57.99. 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 64.20 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below the level of 45.50.
Litecoin forecast & analysis LTC/USD August 12, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will be a test of the upper limit 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.
Cancellation of the Litecoin cryptocurrency drop option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a closing above the level of 69.00, 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 quotes with the breakdown of the support area and the closing below 53.00.
Litecoin forecast & analysis LTC/USD August 12, 2018 suggests an attempt to develop correction of the cryptocurrency and test level of 64.20, from which it is expected to continue the fall of the Litecoin exchange rate with a potential target near the level of 45.50, the abolition of the decline option will perform a strong growth and breakdown of the area of 69.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
