Litecoin LTC/USD is trading at 147. The currency is traded below the Ichimoku Kinko Hyo Cloud boundary, which indicates a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near level 150 is expected, from which one should expect a rebound and an attempt to continue falling of LTC/USD with a target below level 130.
Litecoin forecast & analysis LTC/USD May 3, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area. Earlier, a medium strength signal was received for sell of Litecoin, due to the crossing of signal lines at level 149.
The abolition of the Litecoin fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 155, which indicates a change in the bearish trend in favor of the bullish trend. To expect the acceleration of the drop in quotes LTC/USD stands with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 140.
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