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 Ichimoku Kinko Hyo signal lines near the level 175 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 140.
Litecoin forecast & analysis LTC/USD on March 9, 2018
An additional signal in favor of the fall of the cryptocurrency 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 quotations above the area of 200, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the drop in quotes LTC/USD stands with the breakdown of the lower limit of the model «Triangle» and the closure below the level of 155.
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