Litecoin LTC/USD is trading at 55.01 and continues to move as part of its growth. Cryptocurrency is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates an uptrend. As part of the Litecoin forecast & technical analysis November 5, 2018, a test of the Ichimoku Kinko Hyo signal line area is expected near the level of 53.30. Where should we expect a rebound and an attempt to continue the growth of LTC/USD with the goal above the level of 60.00.
Litecoin forecast & technical analysis November 5, 2018
An additional signal in favor of the growth of cryptocurrency Litecoin will be a test of the support area, as well as a rebound from the lower boundary of the ascending channel. Previously, a weak signal was received for buy the Litecoin, due to the intersection of signal lines at 49.50.
Cancellation of the growth option of Litecoin cryptocurrency will be the fall and breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and close below 50.00. This option will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the cryptocurrency. LTC/USD is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the level of 56.50.
Litecoin forecast & technical analysis November 5, 2018 suggests an attempt to correct cryptocurrency and the 53.30 level test, from which it is necessary to expect continued growth of the Litecoin rate with a potential target near the level of 60.00, a fall in the growth option and a breakdown of the area of 50.00, which indicates continued decline in cryptocurrency.