Cryptocurrency Litecoin (LTC/USD) is trading at 329.88. 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 bars.
Litecoin (LTC/USD) forecast and analysis on May 7, 2021
As part of the Litecoin course forecast, a test level of 321.50 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 364.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 248.20.
Cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the lower border area of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 246.50. This will indicate a change in the current trend in favor of a bearish for LTC/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on May 7, 2021 implies a test level of 321.50. Further, growth is expected to continue to the area above the level of 364.20. The conservative area for buying is located area of 248.20. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 246.50. In this case, we should expect a continuation of the fall.