Cryptocurrency Litecoin (LTC/USD) is trading at 74.29. 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 upper border of the Bollinger Bands indicator stripes.
Litecoin (LTC/USD) forecast and analysis on February 8, 2020
As part of the Litecoin exchange rate forecast, a test of the level of 71.80 is expected. Where should 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 81.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 66.00.
Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of 65.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on February 8, 2020 implies a test level of 71.80. Further, growth is expected to continue to the area above the level of 81.20. The conservative buying area is located is near the area of 66.00. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 65.20. In this case, we should expect continued fall.