Litecoin LTC/USD is trading at the level of 76.61. 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 78.50 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below 68.50.
Litecoin forecast & analysis LTC/USD August 4, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will be a test of the resistance area. Earlier, a weak signal was received for sell of Litecoin cryptocurrency, due to crossing of signal lines at the level of 83.50.
The abolition of the Litecoin crypto currency fall will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the level of 83.50, 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 73.50.
Litecoin forecast & analysis LTC/USD August 4, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 78.50, from which it is expected to continue the fall of the Litecoin exchange rate with a potential target near the level of 68.50, the abolition of the decline option will make a strong growth and breakdown of the 83.50 area.