Litecoin LTC/USD is trading at the level of 76.92. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near the level of 77.40 is expected, from which one should expect a rebound and an attempt to continue the decline of LTC/USD with a target below 67.50
Litecoin forecast & analysis LTC/USD July 12, 2018
An additional signal in favor of the fall of the Litecoin cryptocurrency will be a resistance level test, as well as a test of the lower boundary of the channel. Earlier, a medium strength signal was received for sell of Litecoin cryptocurrency, by crossing the signal lines at 83.00.
The abolition of the Litecoin cryptocurrency fall will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the 84.50 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in quotes LTC/USD is with the breakdown of the support area and the closing below the level of 73.50.