Litecoin LTC/USD is trading at 140. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the level 145, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below level 110.
Litecoin forecast & analysis LTC/USD May 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area. Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 145.
The abolition of the Litecoin cryptocurrency drop option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 160, 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 support area and closing below the level of 130.
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