Cryptocurrency Litecoin (LTC/USD) is trading at 108.14. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of level 112.00 is expected, from which one should expect an attempt to continue the decline and further development of a downward trend with a target near the level of 100.00.
Litecoin (LTC/USD) forecast and analysis on June 12, 2018
The conservative sales area for Litecoin is located at the middle of the Bollinger Bands indicator bars at 112.00. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 120.50, 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.