Cryptocurrency Litecoin (LTC/USD) is trading at 224.85. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 249.80 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 155.50.
Litecoin (LTC/USD) forecast and analysis on December 29, 2017
The conservative sales area for Ethereum is near the upper boundary of the Bollinger Bands indicator strip at 265.30. The abolition of the continuation of the fall of the LTC/USD pair will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 295.80, indicating a change in the trend in favor of the bullish 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.