Litecoin LTC/USD is trading at the level of 154. The cryptocurrency is traded below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the 165 level, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below the level of 120.
Litecoin forecast & analysis LTC/USD on March 16, 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, a strong signal was received for the sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 165.
The abolition of the Litecoin fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 180, which indicates a change in the bearish trend in favor of the bullish trend. To expect the acceleration of the drop in quotes LTC/USD is worth a breakdown of the lower boundary of the bearish channel and closing below the level of 145.
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