Litecoin LTC/USD is trading at 51.33 and continues to move within the framework 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 downward trend. As part of the Litecoin forecast & analysis LTC/USD October 29, 2018, a test of the lower limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 52.00, from which it is necessary to expect a rebound and an attempt to continue the fall of LTC / USD with a target below the level of 48.00.
Litecoin forecast & analysis LTC/USD October 29, 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. Previously, a strong signal was received for SELL the Litecoin, 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 closing above the level of 53.50. 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 50.50.
Litecoin forecast & analysis LTC/USD October 29, 2018 suggests an attempt to correct cryptocurrency and test level 52.00, from which we can 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 53.50 area, which indicates on the continued growth of cryptocurrency.