Cryptocurrency Litecoin (LTC/USD) is trading at 89.06. 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 middle border of the Bollinger Bands indicator.
Litecoin (LTC/USD) forecast and analysis on July 31, 2019
As part of the Litecoin course forecast, a test level of 94.20 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 77.20 level. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator at 94.50.
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. As well as the moving average with a period of 55 and closing quotations of the pair above the 98.20 area. This will indicate a change in the current bullish trend for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on July 31, 2019 implies a test level of 94.20. Further, it is expected to continue falling to the area below the level of 77.20. The conservative area for selling Litecoin is located area of 94.50. Canceling the option of falling cryptocurrency will be a breakdown of the level of 98.20. In this case, we can expect continuation growth.
