Litecoin LTC/USD is trading at 61.39. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The Ichimoku Kinko Hyo signal line area test is expected near the level of 66.00, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below the level of 52.50.
Litecoin forecast & analysis LTC/USD August 9, 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 sell 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 75.00, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in quotes LTC/USD is with the breakdown of the support area and the closure below the level of 58.00.
Litecoin forecast & analysis LTC/USD August 9, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 66.00 level test, from which it is expected to continue the decline of the Litecoin exchange rate with a potential target near the level of 52.50, the abolition of the decline option will be strong growth and breakdown of the area of 75.00.