Cryptocurrency Litecoin (LTC/USD) is trading at 92.26. 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.
Litecoin (LTC/USD) forecast and analysis on May 16, 2019
As part of the Litecoin course forecast, a test level of 88.20 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 102.50. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 83.50.
Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 82.00 area. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on May 16, 2019 implies a test level of 88.20. Further growth is expected to continue to the area above the level of 102.50. The conservative area for buying Litecoin is located area of 83.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 82.00. In this case, we should expect the continuation of the fall.