Litecoin LTC/USD is trading at 82.75. 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 it is expected to rebound and try to continue falling LTC/USD with a target below 75.00.
Litecoin forecast & analysis LTC/USD July 29, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» model. 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 bearish 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.