Cryptocurrency Litecoin (LTC/USD) is trading at 42.36. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. A test of the level of 44.00 is expected, from which one can expect an attempt to continue the fall and further develop the downward trend with a goal near the level of 38.20.
Litecoin (LTC/USD) forecast and analysis on November 16, 2018
The conservative area for Litecoin sales is near the middle border of the Bollinger Bands indicator at 48.50. Cancellation of the option to continue falling Litecoin will be the breakdown of the area of the middle border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of quotations of the pair above the area of 51.00 of 205.00, which indicates a change in trend in favor of the bullish for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
