Litecoin (LTC/USD) forecast and analysis on December 8, 2017

Cryptocurrency Litecoin (LTC/USD) is trading at 95.09. 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. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of level 93.10 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 107.50.

Litecoin (LTC/USD) forecast and analysis on December 8, 2017

Litecoin (LTC/USD) forecast and analysis on December 8, 2017

The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 94.30. 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 87.50, which will indicate a change in the trend 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.

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