Litecoin LTC/USD is trading at 56.11 and continues to move within the limits of the decline. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. As part of the digital currency forecast for September 8, 2018, the Ichimoku Kinko Hyo signal line area is expected to test near the level of 58.50, from which one should expect a rebound and an attempt to continue the decline of LTC/USD with a target below 49.00.
Litecoin forecast & analysis LTC/USD September 8, 2018
An additional signal in favor of the fall of the Litecoin cryptocurrency will be a test of the resistance area, as well as a rebound from the upper boundary of the bearish channel. Earlier, we received a weak signal for sell of Litecoin cryptocurrency, due to crossing of signal lines at the level of 59.00.
The abolition of the Litecoin cryptocurrency fall will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the level of 62.50, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect confirmation of the drop in LTC/USD quotations is with the breakdown of the support area and the closing below the level of 52.00.
Litecoin forecast & analysis LTC/USD September 8, 2018 suggests an attempt to correct the crypto currency and test level of 58.50, where we can expect the Litecoin to continue falling with a potential target near the level of 49.00, the abolition of the decline option will be strong growth and breakdown of the area of 62.50, which will indicate on the continued growth of the cryptocurrency.
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