Litecoin LTC/USD completes the trading week near the area of 51.39. Cryptocurrency is trading below the lower Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend on Litecoin. The test of the Ichimoku Kinko Hyo signal line region is expected near the level of 55, from where we can expect a rebound and an attempt to continue the fall of LTC/USD with a target below level 40.
Litecoin weekly forecast October 29 — November 2, 2018
An additional signal in favor of the fall of cryptocurrency will be the test of the resistance level, as well as the test of the upper boundary of the «Triangle» model. Earlier, a medium strength signal was obtained for SELL the Litecoin cryptocurrencies, due to the crossing of signal lines at level 58.
Cancellation of the fall variant of Litecoin will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above area 62, which will indicate a change in the downward trend in favor of an upward trend. Expect to accelerate the fall of the cryptocurrency costs with the breakdown of the lower boundary of the model «Triangle» and closing below level 46.
Litecoin weekly forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to level 55, from which we should expect a rebound and a continuation of the fall of cryptocurrency with a potential target near level 40; 62, in this case we should expect continued growth of Litecoin.