Litecoin LTC/USD is trading at 45.72 and continues to move as part of the formation of the «Head and Shoulders» reversal pattern. LTC/USD quotes move below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend. As part of the Litecoin Forecast and Analysis LTC/USD March 6, 2019. A test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 47.65. Where should we expect a rebound and an attempt to continue the fall of LTC/USD with the target below the level of 36.00.
Litecoin Forecast and Analysis LTC/USD March 6, 2019
An additional signal in favor of the fall of cryptocurrency Litecoin will be the test of the resistance area. As well as the formation of a reversal pattern. Earlier, a medium strength signal was received for SELL of Litecoin cryptocurrencies. The signal was formed due to the intersection of signal lines at 46.65. The nearest resistance area is at 48.00. The LTC/USD support area is located at 42.00.
Abolishing the cryptocurrency fall option Litecoin will break the upper boundary of the Ichimoku Kinko Hyo Cloud and close above 50.05. This option will indicate a change in the lateral 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 boundary of the indicator cloud and closing below 43.00.
Litecoin Forecast and Analysis LTC/USD March 6, 2019 involves an attempt to correct cryptocurrency and a test level of 47.65. Where can we expect the continuation of the fall of the Litecoin course with a potential target near the level of 36.00. Cancellation option reduction will make a strong growth and the breakdown of the 50.05 area. That will indicate the continued growth of cryptocurrency with a potential target at the level of 55.00.