Cryptocurrency Litecoin (LTC/USD) is trading at 290.13. 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 test the average border of the bars of the indicator Bollinger Bands. A test of the level of 275.90 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 380.50.
Litecoin (LTC/USD) forecast and analysis on December 17, 2017
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at the level of 246.80. The abolition of the continuation of Litecoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations below the area of 190.50, which will indicate a trend reversal in favor of the bearish for LTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.
