Litecoin LTC/USD is trading at the level of 73.95. 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 is expected near the level of 74.00, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below 65.00.
Litecoin forecast & analysis LTC/USD August 8, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will be the resistance area test, as well as the upper bound of the «Triangle» model. 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 boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 78.00, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate 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 70.00.
Litecoin forecast & analysis LTC/USD August 8, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 74.00 level test, from which it is expected to continue the fall of the Litecoin exchange rate with a potential target near the level of 65.00, the cancellation of the decline option will make a strong growth and breakdown of the 78.00 area.