Cryptocurrency Litecoin (LTC/USD) is trading at 57.68. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator. A test of the level of 59.00 is expected, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 53.60.
Litecoin (LTC/USD) forecast and analysis on October 6, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator bars 61.00. Cancellation of the option to continue falling Litecoin 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 quotations of the pair above the 62.50 area, which will indicate a change in trend in favor of the bullish 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.