Litecoin LTC/USD is trading at 56.70. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Litecoin (LTC/USD) forecast and analysis on August 3, 2022
As part of the Litecoin rate forecast, a test of the level of 58.70 is expected. Where should we expect an attempt to continue the fall of LTC/USD and further development of the downward trend. The target of this movement is the area near the level of 53.70. The conservative area for selling Litecoin is located near the upper border of the Bollinger Bands indicator at 63.30.
Cancellation of the option to continue depreciating Litecoin will be a breakdown of the area of the upper border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the pair’s quotes above the area of 64.70. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on August 3, 2022 implies a test level of 58.70. Further, it is expected to continue falling to the area below the level of 53.70. The conservative sales zone is near the area of 63.30. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 64.70. In this case, we should expect continued growth.
