Litecoin LTC/USD is trading at level 118. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near level 125 is expected, from which it is expected to rebound and attempt to continue falling of LTC/USD with a target below the level of 100.
Litecoin forecast & analysis LTC/USD May 24, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 134.
The abolition of the Litecoin cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 145, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in LTC/USD quotes with the breakdown of the support area and the closing below the level of 115.
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