Litecoin LTC/USD completes the trading week near the area of 175. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend for Litecoin. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the 165 level, from which one should expect a rebound and an attempt to continue LTC/USD growth with a target above the level of 260.
Litecoin (LTC/USD) weekly forecast on March 12 — 16, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level, as well as a test of the lower boundary of the channel. Earlier, a medium strength signal was obtained for sell of Litecoin cryptocurrency, due to the crossing of signal lines at the level of 180.
The abolition of Litecoin growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below area 130, indicating a change in the flat trend in favor of the bearish trend. Expect to accelerate the growth of the cryptocurrency is with the breakdown of the upper boundary of the indicator Cloud and the closing above 215, which will indicate the resumption of the bullish trend for Litecoin.