Litecoin LTC/USD is trading at the level of 114. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. A test of the Ichimoku Kinko Hyo signal line area near level 125 is expected, from which we expect a rebound and an attempt to continue falling LTC/USD with a target below 95.
Litecoin forecast & analysis LTC/USD March 31, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 160.
Cancellation of the Litecoin fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 150, which will indicate a change in the bearish trend in favor of the bullish trend. To expect the acceleration of the drop in quotes LTC/USD stands with the breakdown of the lower boundary of the descending channel and the closing below the level of 95.