Cryptocurrency Litecoin (LTC/USD) is trading at 93.16. 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 are moving near the lower border of the Bollinger Bands indicator bars. A test of level 95.80 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 82.50.
Litecoin (LTC/USD) forecast and analysis on December 9, 2017
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator strip at 104.50. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 107.50, 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.