Litecoin LTC/USD is trading at level 112. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud near the level 125 is expected to be tested near the level of 125, from which we should expect a rebound and an attempt to continue the decline of LTC/USD with a target below 70. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Litecoin forecast & analysis LTC/USD on February 6, 2018
Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 125. 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 quotes LTC/USD stands with the breakdown of the lower limit of the model «Triangle» and closing below 100.
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