Litecoin LTC/USD is trading at the level of 170. The cryptocurrency is traded below the lower boundary of Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Litecoin. The test area of the Ichimoku Kinko Hyo signal lines near the level of 180 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below the level of 145.
Litecoin forecast & analysis LTC/USD on March 8, 2018
An additional signal in favor of the fall of the crypto currency will be a resistance level test. Earlier, a medium strength signal was obtained for the sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 195.
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 210, which indicates a change in the bearish trend in favor of the bullish trend. To expect the acceleration of the drop in LTC/USD quotes is with the breakdown of the support area and the closing below the level of 160.
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