Litecoin forecast & analysis LTC/USD on October 16, 2017


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Litecoin LTC/USD is traded at the level of 60. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Litecoin. The test area of ​​Ichimoku Kinko Hyo signal lines near level 57 is expected, from which we should expect a rebound and an attempt at LTC/USD growth with a goal above the level of 65.

Litecoin forecast & analysis LTC/USD on October 16, 2017

Litecoin forecast & analysis LTC/USD on October 16, 2017

An additional signal in favor of the growth of the cryptocurrency will be a test of the support level. Earlier, a medium strength signal was obtained for buy of Litecoin cryptocurrency due to the crossing of signal lines at level 51. The abolition of Litecoin growth variant will be the breakdown of the lower boundary of Ichimoku Kinko Hyo Cloud with the closing of quotations below area 53, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of the cryptocurrency is with the level breakdown 62.

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