Cryptocurrency Litecoin (LTC/USD) is trading at 246.06. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. At the moment, the quotes of the cryptocurrency test the border of the bands of the indicator Bollinger Bands. A level test 270.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 180.50.
Litecoin (LTC/USD) forecast and analysis on December 23, 2017
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator strip at 360.90. The abolition of the continuation of the fall of the LTC/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 380.80, indicating a change in the bullish trend for Litecoin. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.