Litecoin LTC/USD is trading at 72.46. 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 74.50 is expected, from which we should expect a rebound and an attempt to continue falling LTC/USD with a target below 65.00.
Litecoin forecast & analysis LTC/USD August 5, 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 sell of Litecoin cryptocurrency, due to crossing of signal lines at the level of 83.50.
The abolition of the Litecoin cryptocurrency fall will be a breakdown of the upper Ichimoku Kinko Hyo Cloud and a close above 82.50, indicating a bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in LTC/USD quotes with the breakdown of the support area and the closing below the level of 70.00.
Litecoin forecast & analysis LTC/USD August 5, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 74.50 level test, where we can expect the Litecoin rate to continue falling with a potential target near the level of 65.00, the cancellation of the decline option will result in strong growth and breakdown of the area at 82.50.