Litecoin LTC/USD is trading at the level of 57.87. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Litecoin. As part of the forecast for the digital currency, the Ichimoku Kinko Hyo Cloud upper boundary test is expected near the level of 59.00, 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 20, 2018
An additional signal in favor of the drop of the Litecoin cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» reversal model. Earlier, a medium strength signal was received for sell of Litecoin cryptocurrency, due to the crossing of the signal lines at the level of 57.00.
The abolition of the Litecoin crypto currency drop option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above 62.00, indicating a change in the flat trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect confirmation of the decline in LTC/USD quotes stands with the breakdown of the Ichimoku Kinko Hyo Cloud lower boundary and the closing above the level of 54.00.
Litecoin forecast & analysis LTC/USD August 20, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 59.00, from which it is expected to continue the decline of the Litecoin exchange rate with a potential target near the level of 47.00, the cancellation of the fall version will be strong growth and breakdown of the area of 62.00.
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