Litecoin LTC/USD is trading at the level of 118. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the level 115, from which it is expected to rebound and try to grow LTC/USD with a target above level 140.
Litecoin forecast & analysis LTC/USD June 2, 2018
An additional signal in favor of the growth of the cryptocurrency will be the formation of the reversal model «Head and Shoulders», as well as the bullish «Wolfe Wave» model. The purpose of testing the «Wolfe Wave» model is the area above the level of 175. Earlier, a weak signal was obtained for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 117.
The abolition of the Litecoin cryptocurrency growth option will be the breakdown of the lower Ichimoku Kinko Hyo Cloud boundary and the closure below the 110 area, which will indicate the cancellation of the «Head and Shoulders» reversal pattern and the continued fall of the crypto currency. To expect confirmation of the growth of LTC/USD quotations stands with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 125.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
