Litecoin forecast & analysis LTC/USD on February 8, 2018

8 February 2018, 06:39
Jatin Patel

Litecoin LTC/USD is trading at level 147. 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 upper limit test is expected near the 150 level, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below 95.

Litecoin forecast & analysis LTC/USD on February 8, 2018

An additional signal in favor of the drop of the cryptocurrency will be a resistance level test. Earlier, a strong signal was received for sell of Litecoin cryptocurrency, due to the crossing of signal lines at level 125. 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 165 area, which indicates a change in the flat trend in favor of the bullish trend. Expect the acceleration of the drop in quotes LTC/USD stands with the breakdown of the lower limit of the model «Triangle» and closing below 105.


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