Cryptocurrency Litecoin (LTC/USD) is trading at 51.56. 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, the cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands. It is expected to test the level of 53.00, from which one can expect an attempt to continue the fall and further develop the downward trend with a goal near the level of 48.00.
Litecoin (LTC/USD) forecast and analysis on October 16, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator bars at 54.00. Cancellation of the option to continue the fall of the LTC/USD pair will be a breakdown of the upper border area of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair quotes above the 56.00 area, indicating a change in trend in favor of the bullish for Litecoin. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.