Cryptocurrency Litecoin (LTC/USD) is trading at 76.88. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 78.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 70.00.
Litecoin (LTC/USD) forecast and analysis on July 16, 2018
The conservative area for Litecoin sales is located at the upper border of the Bollinger Bands indicator strip at 78.60. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair’s quotes above the 85.00 area, indicating a change in the bullish trend for Litecoin. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.