Cryptocurrency Litecoin (LTC/USD) is trading at 120.96. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish 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 level 117.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 128.20.
Litecoin (LTC/USD) forecast and analysis on June 7, 2018
The conservative buying area for Litecoin is located near the lower border of the Bollinger Bands indicator strip at 116.00. The abolition of the continuation of Litecoin growth will be the breakdown of the lower bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 110.50, indicating a change in the bearish trend for LTC/USD. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, one should expect an acceleration of growth.