Litecoin LTC/USD is trading at level 122. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Litecoin. The test area of Ichimoku Kinko Hyo signal lines near level 120 is expected, from which we should expect a rebound and an attempt at LTC/USD growth with a target above level 140.
Litecoin forecast & analysis LTC/USD June 3, 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 a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closure below area 115, which indicates a change in the flat trend in favor of the bearish trend and the continued fall of the cryptocurrency. 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.
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