Cryptocurrency Litecoin (LTC/USD) is trading at 55.51. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of level 58.00 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 49.20.
Litecoin (LTC/USD) forecast and analysis on September 7, 2018
The conservative sales area of Litecoin is located near the middle border of the Bollinger Bands indicator strip at 65.00. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotations above the 70.00 area, indicating a change in the bullish trend for Litecoin. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.