Litecoin LTC/USD is trading at the level of 148. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of the Ichimoku Kinko Hyo signal lines near level 155 is expected, from which we should expect a rebound and an attempt to continue the LTC/USD fall below 120.
Litecoin forecast & analysis LTC/USD on March 17, 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. 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 130.
