Cryptocurrency Litecoin (LTC/USD) is trading at 57.74. Cryptocurrency quotes are trading 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 middle border of the Bollinger Bands indicator. A test of the level of 58.20 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 54.50.
Litecoin (LTC/USD) forecast and analysis on October 9, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator bars 58.60. . 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 60.50 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.