Litecoin LTC/USD is trading at level 162. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Litecoin. Ichimoku Kinko Hyo Cloud is expected to test near the 160 level, from which it is expected to rebound and try to continue the growth of LTC/USD with a target above the level of 200.
Litecoin forecast & analysis LTC/USD May 8, 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.
Cancellation of the growth option for Litecoin cryptocurrency will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 150, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of LTC/USD quotations growth with the breakdown of the resistance area and the closing above the level of 180.
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