Cryptocurrency Litecoin (LTC/USD) is trading at 76.00. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.
Litecoin (LTC/USD) forecast and analysis on August 16, 2019
As part of the Litecoin course forecast, a test level of 76.00 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 66.20. The conservative sales area for Litecoin is located near the upper border of the Bollinger Bands indicator strip at 92.00.
Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 93.20. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on August 16, 2019 implies a test level of 76.00. Further, it is expected to continue falling to the area below the level of 66.20. The conservative area for selling Litecoin is located area of 92.00. Canceling the option of falling cryptocurrency will be a breakdown of the level of 93.20. In this case, we can expect continuation growth.