Cryptocurrency Litecoin (LTC/USD) is trading at 52.78. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator. A test of the level of 55.20 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 42.50.
Litecoin (LTC/USD) weekly forecast on November 5 — 11, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator bars at 56.00. Cancellation of the option to continue falling Litecoin will be a breakdown of the area of the upper border of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of quotations of the pair above 60.00, which will indicate a change in trend in favor of the bullish 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.