Litecoin LTC/USD is trading at 80.54. 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 is expected to test near the 81.00 level, from which it is expected to rebound and attempt to drop LTC/USD with a target below 72.00
Litecoin forecast & analysis LTC/USD July 8, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, we received a weak signal for sell of Litecoin cryptocurrency, due to the crossing of signal lines at 83.00.
The abolition of the Litecoin cryptocurrency reduction option will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the 87.00 area, 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 quotations is with the breakdown of the lower border of the channel and the closing below the level of 77.00.
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