Litecoin LTC/USD is trading at 78.03. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The Ichimoku Kinko Hyo Cloud low limit test is expected near the 79.00 level, from which one should expect a rebound and an attempt to continue the decline of LTC/USD with a target below 70.00.
Litecoin forecast & analysis LTC/USD July 16, 2018
An additional signal in favor of the fall of the Litecoin cryptocurrency will be a test of the resistance level, as well as a test of the upper limit of the «Triangle» model. 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 crypto currency drop option will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the 82.00 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the drop in quotes LTC/USD stands with the breakdown of the lower limit of the model «Triangle» and the closing below the level of 73.50.
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