Litecoin LTC/USD is trading at the level of 119. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend for Litecoin. Ichimoku Kinko Hyo signal line area test near level 135 is expected, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below the level of 80. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Litecoin forecast & analysis LTC/USD on February 3, 2018
Earlier, we received a weak signal for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 167. Cancellation of the Litecoin fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 165 area, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in quotations LTC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below 70.
