Litecoin LTC/USD is trading at 51.59 and continues to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend. As part of the Litecoin forecast & analysis LTC/USD October 23, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 52.50, from where it is necessary to expect a rebound and an attempt to continue the fall of LTC/USD with a target below 47.00.
Litecoin forecast & analysis LTC/USD October 23, 2018
An additional signal in favor of the fall of the cryptocurrency Litecoin will be the test of the resistance area, as well as the test of the upper boundary of the «Triangle» model. Earlier, a weak signal was received for buy of Litecoin cryptocurrencies, due to the crossing of signal lines at the level of 52.50.
The abolition of the Litecoin cryptocurrency fall option will be strong growth and the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closure above 55.50. This option will indicate a change in the downward trend in favor of the upward trend and the continued growth of cryptocurrency. LTC/USD quotes are expected to accelerate with the breakdown of the lower border of the «Triangle» model and closing below 50.00.
Litecoin forecast & analysis LTC/USD October 23, 2018 suggests an attempt to correct cryptocurrency and test level 52.50, from which it is necessary to expect the Litecoin course to continue falling with a potential target near the level of 48.00, a strong growth and a breakdown of the 55.50 area will appear, indicating on the continued growth of cryptocurrency.