Litecoin LTC/USD is trading at 215. The cryptocurrency is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud near the level 220 is expected to be tested near the level, from which one should expect a rebound and an attempt to continue the LTC/USD fall below 180. A strong signal was previously received for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 215.
Litecoin forecast & analysis LTC/USD on January 16, 2018
The abolition of the Litecoin fall option will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 240, which indicates a change in the bearish trend in favor of the bullish.
With the test of area 185 it is necessary to expect the completion of the formation of the bullish model of the «Wolfe Wave». In this case, we should expect a rebound and a growth attempt with a potential target near the area above the 270 level.
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