Cryptocurrency Litecoin is trading at 77 and continues to move as part of the development of the fall and the downward channel. LTC/USD quotes are moving below the lower boundary of the Cloud of the Ichimoku Kinko Hyo technical indicator. This indicates a bearish trend in the cryptocurrency. As part of the Litecoin price forecast for April 17, 2024. An attempt to develop a bearish correction and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near level 81 are expected. Where can we expect a rebound downward and an attempt to continue the fall of the LTC/USD asset with a target below level 55.
Litecoin Forecast and Analysis for April 18, 2024
An additional signal in favor of a decline in the Litecoin cryptocurrency in the markets will be a test of the resistance area on the cryptocurrency price chart. The second signal in favor of this scenario will be a rebound from the upper border of the bearish channel. Previously, a signal of medium strength was received for sales of the Litecoin cryptocurrency. The signal was formed due to the intersection of signal lines at level 100. The nearest resistance area for Litecoin on the cryptocurrency chart is at level 89. The support area for LTC/USD is at level 69.
Cancellation of the option for the fall of the Litecoin cryptocurrency will be a strong growth and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with quotes closing above the level of 91. This option will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the cryptocurrency. Expect an acceleration in the fall of LTC/USD quotes with a breakdown of the support area and closing prices below level 68.
Litecoin Forecast and Analysis for April 18, 2024 suggests an attempt to develop a bullish correction of the cryptocurrency and a test of level 81. Where can we expect a continuation of the fall of Litecoin with a potential target near level 55. Cancellation of the reduction option will be a strong growth and a breakdown of the 91 area. What will indicate continued growth of the cryptocurrency with a target above the level of 115.
