Litecoin LTC/USD is trading at 83.00. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the level of 84.50, from which we should expect a rebound and an attempt to continue falling LTC/USD with a target below 74.65.
Litecoin forecast & analysis LTC/USD July 23, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a resistance level test. Earlier, we received a weak signal for sell of Litecoin cryptocurrency, due to the crossing of signal lines at 85.00.
The abolition of the Litecoin cryptocurrency drop option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the 88.00 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the crypto currency. To expect confirmation of the drop in quotes LTC/USD stands with the breakdown of the lower border of the bullish channel and the closing below the level of 80.00.
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