Litecoin LTC/USD is trading at 249. The cryptocurrency is trading above the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Litecoin. The Ichimoku Kinko Hyo signal line area test is expected near the 225 level, from which one should expect a rebound and an attempt to continue LTC/USD growth with a goal above the level of 300.
Litecoin forecast & analysis LTC/USD on January 8, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a medium strength signal was received for buy of Litecoin cryptocurrency, due to the crossing of signal lines at level 215. Canceling the growth option, Litecoin will become the lower upper boundary of the Ichimoku Kinko Hyo Cloud, with the closing of quotations below the area of 200, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of the crypto currency LTC/USD is worth a breakdown of the level of 280.
In favor of continuing the correction is the formation of the reversal model “Head and shoulders“. In this case, we should expect the continuation of the decline in the area of 225 as part of the model’s development. Abolition of the option will break through the level of 280, which indicates the continued growth.