Litecoin LTC/USD is trading at the level of 84.18. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Litecoin. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 84.60, from which one should expect a rebound and an attempt to continue the decline of LTC/USD with a target below 75.00.
Litecoin forecast & analysis LTC/USD July 28, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a resistance level test, as well as a rebound from the lower boundary of the bullish channel. Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at the level of 83.50.
The abolition of the Litecoin cryptocurrency fall will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the level of 88.00, indicating a change in the flat trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect confirmation of the drop in LTC/USD quotes is with the breakdown of the support area and the closing below the level 79.75, which will indicate the completion of the formation of the «Head and Shoulders» model.