Litecoin LTC/USD is trading at 175. The cryptocurrency is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud test is expected near the level of 180, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below the level of 125.
Litecoin forecast & analysis LTC/USD on March 12, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to crossing of signal lines at level 165.
Cancellation of the Litecoin fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 195, which will indicate a change in the bearish trend in favor of the bullish trend. To expect the acceleration of the drop in quotes LTC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 135.
In favor of the fall is also the formation of the bearish model of the «Wolfe Wave». The target of the model is the area at the level of 150. The abolition of the model will be a strong growth and breakdown of the 195 area, which will indicate the continued growth.
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