Cryptocurrency Litecoin (LTC/USD) is trading at 53.61. Cryptocurrency quotes are trading above the moving average with a period of 55, which indicates the presence of a bullish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator. A test of level 52.60 is expected, from which one can expect an attempt to continue the growth and further development of the upward trend with a target near the level of 55.60.
Litecoin (LTC/USD) forecast and analysis on November 7, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 49.80. The abolition of the option of continued growth of Litecoin will be a breakdown of the lower boundaries of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and the close of quotes of the pair below 49.00, indicating a change in trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.