Litecoin LTC/USD is trading at the level of 97. The cryptocurrency is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near level 100 is expected, from which it is expected to rebound and attempt to drop LTC/USD with a target below level 85.
Litecoin forecast & analysis LTC/USD June 16, 2018
An additional signal in favor of the fall of the crypto currency will be a test of the resistance level, as well as a test of the upper boundary of the descending channel. Earlier, we received a weak signal for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 121.
Cancellation of the Litecoin cryptocurrency drop option will be a breakdown of the upper Ichimoku Kinko Hyo Cloud and a close above the 110 area, which indicates a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in LTC/USD quotations with the breakdown of the support area and the closing below the level of 90.
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