Litecoin LTC/USD is trading at 74.19. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of the Ichimoku Kinko Hyo signal lines near the 74.50 level is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below 67.00.
Litecoin forecast & analysis LTC/USD August 6, 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 the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the level of 80.50, which indicates 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 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 6, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 74.50 level test, where we can expect the Litecoin to continue falling with a potential target near the level of 67.00, the abolition of the decline option will be strong growth and breakdown of the region of 80.50.