Litecoin LTC/USD is trading at the level of 178. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo signal line area test is near the 195 level, from which we expect a rebound and an attempt to continue the LTC/USD fall below the level of 145.
Litecoin forecast & analysis LTC/USD on January 17, 2018
Earlier, a strong signal was received for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 215. The 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 area 230, which will indicate a change in the downward trend in favor of the ascending trend.
We should not exclude the attempt to form a bull model of «Wolfe Wave». In this case, one should expect a breakdown of level 210 and a growth attempt with a potential target near level 275.
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