Litecoin (LTC/USD) forecast and analysis on December 16, 2017

Cryptocurrency Litecoin (LTC/USD) is trading at 254.88. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Litecoin. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 235.20 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 360.50.

Litecoin (LTC/USD) forecast and analysis on December 16, 2017

Litecoin (LTC/USD) forecast and analysis on December 16, 2017

The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 220.60. The abolition of the continuation of Litecoin growth will be the breakdown of the lower bound of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of ​​180.50, indicating a change in the bearish trend for LTC/USD. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, one should expect an acceleration of growth.

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