Litecoin LTC/USD is trading at the level of 59.27. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. As part of the digital currency forecast, the Ichimoku Kinko Hyo cloud low limit test is expected near the level of 60.00, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below 47.00.
Litecoin forecast & analysis LTC/USD August 18, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a rebound from the upper bound of the «Triangle» model, as well as a rebound from the resistance level. Earlier, a weak signal was received for purchases of Litecoin cryptocurrency, due to the crossing of signal lines at 55.00.
The abolition of the Litecoin cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above 62.00, indicating a downward trend in favor of the upward trend and the continued growth of the crypto currency. Expect the acceleration of the drop in quotes LTC/USD stands with the breakdown of the lower limit of the model «Triangle» and the closing below the level of 50.00.
Litecoin forecast & analysis LTC/USD August 18, 2018 suggest an attempt to develop a correction of the cryptocurrency and a 60.00 level test, from which it is expected to continue the fall of the Litecoin exchange rate with a potential target near the level of 47.00, the cancellation of the decline option will make a strong growth and breakdown of the area at 62.00.
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