Cryptocurrency Litecoin (LTC/USD) is trading at 58.32. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, the cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bands.
Litecoin (LTC/USD) forecast and analysis on August 7, 2020
As part of the Litecoin course forecast, a test level of 56.70 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 63.50. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 56.60.
Cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair 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, one should expect an acceleration in the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on August 7, 2020 implies a test level of 56.70. Further, growth is expected to continue to the area above the level of 63.50. The conservative area for buying Bitcoin is located area of 56.60. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 53.20. In this case, we should expect the fall to continue.