Litecoin LTC/USD is trading at 197 level. 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 near level 205 is expected, from which we should expect a rebound and an attempt to continue falling of LTC/USD with a target below the level of 130.
Litecoin forecast & analysis LTC/USD on January 2, 2018
An additional signal in favor of the drop of the cryptocurrency will be a resistance level test. Earlier, a medium strength signal was received for sell of Litecoin cryptocurrency, due to crossing of signal lines at level 245. Cancellation of the Litecoin fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above area 235, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of the cryptocurrency LTC/USD is worth a breakdown level 175.