Litecoin LTC/USD is trading at the level of 171. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines near the level 165 is expected, from which we should expect a rebound and an attempt to continue the growth of LTC/USD with a target above the level of 200.
Litecoin forecast & analysis LTC/USD May 7, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area, as well as the test of the lower boundary of the channel. Earlier, a weak signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 150.
The abolition of the growth option for Litecoin crypto currency will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below area 155, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of LTC/USD quotes growth with the breakdown of the resistance area and the closing above the level of 185.
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