Litecoin LTC/USD is trading at 81.71. 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 83.50 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below 72.50.
Litecoin forecast & analysis LTC/USD July 31, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a test of the resistance area, 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 86.50 level, which will indicate 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.