Litecoin LTC/USD is trading at 61.40. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. Ichimoku Kinko Hyo signal line area test is expected near the level of 63.40, from which it is expected to rebound and attempt to continue falling of LTC/USD with a target below the level of 51.50.
Litecoin forecast & analysis LTC/USD August 11, 2018
An additional signal in favor of lowering the Litecoin cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a weak signal was received for sales of Litecoin cryptocurrency, due to crossing of signal lines at the level of 83.50.
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 70.50, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the crypto currency. To expect the acceleration of the drop in LTC/USD quotes is with the breakdown of the support area and the closing below the level of 58.50.
Litecoin forecast & analysis LTC/USD August 11, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 63.40, from which it is expected to continue the fall of the Litecoin exchange rate with a potential target near the level of 51.50, the abolition of the decline option will make a strong growth and breakdown of the region of 70.50.