Cryptocurrency Litecoin (LTC/USD) is trading at 58.63. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bands.
Litecoin (LTC/USD) forecast and analysis on August 5, 2022
As part of the Litecoin rate forecast, a test of the level of 56.30 is expected. Where should we expect an attempt to continue the growth of LTC/USD and further development of the upward trend. The target of this movement is the area near the level of 63.10. The conservative area for buying Litecoin is located near the lower border of the Bollinger Bands indicator at the level of 56.20.
Cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the area of the lower 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 below the area of 53.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In the event of a breakdown of the upper 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 5, 2022 implies a test level of 56.30. Further growth is expected to continue to the area above the level of 63.10. The conservative area for buying is located area of 56.20. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 53.20. In this case, we should expect the continuation of the fall.
