Cryptocurrency Litecoin (LTC/USD) is trading at 79.20. 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 bands.
Litecoin (LTC/USD) forecast and analysis on May 11, 2023
As part of the Litecoin rate forecast, a test of the level of 80.50 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 71.40. The conservative area for selling Litecoin is located near the upper border of the Bollinger Bands indicator at the level of 85.10.
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 88.50. 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 May 11, 2023 implies a test level of 80.50. Further, it is expected to continue falling to the area below the level of 71.40. The conservative sell zone is near the 85.10 area. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 88.50. In this case, we should expect continued growth.