Litecoin LTC/USD is trading at 189. The cryptocurrency is traded below the lower limit of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The Ichimoku Kinko Hyo cloud is expected to test near the 195 level, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below the level of 160.
Litecoin forecast & analysis LTC/USD on March 7, 2018
An additional signal in favor of the fall of the crypto currency will come from the lower bound of the «Triangle» model. Earlier, weak signals were received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 200.
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 215, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the growth of LTC/USD quotes with the breakdown of the support area and the closing below the level of 175.
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