Cryptocurrency Litecoin completes the trading week near the area of 56.62. LTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend in Litecoin. As part of the forecast of the cryptocurrency rate for the next week March 11 — 15, 2019. An attempt is expected to fall and test the area of the Ichimoku Kinko Hyo signal lines near the 52.00 level. Where should we expect a rebound and an attempt to continue the growth of LTC/USD with a target above the level of 72.00.
Litecoin Analysis and Forecast March 11 — 15, 2019
An additional signal in favor of the growth of cryptocurrency will be the test of the support level. The second signal will be a rebound from the lower boundary of the rising channel. Earlier, a medium strength signal has been received for BUY the Litecoin. The signal was formed due to the intersection of signal lines at the level of 32.00. The nearest resistance area is at 60.00. The area of support for LTC/USD is at 50.00.
The abolition of the growth option of Litecoin will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 40.00 area. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall. Expect to accelerate the growth of cryptocurrency costs with the breakdown of the resistance area and closing above the level of 60.50.
Litecoin Analysis and Forecast March 11 — 15, 2019 suggests an attempt to develop a correction to the level of 52.00. Where can we expect a rebound and the continued growth of cryptocurrency with a potential target near the level of 72.00. In favor of the rise will make a rebound from the lower boundary of the bullish channel. The cancellation of the growth option will be a breakdown of the 40.00 area. In this case, we should expect a continuation of Litecoin decline with a potential target of 30.00.