Cryptocurrency Litecoin (LTC/USD) is trading at 229.80. 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 upper boundary of the bands of the indicator Bollinger Bands. A test of level 215.20 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 270.50.
Litecoin (LTC/USD) forecast and analysis on February 16, 2018
The conservative buying area for Litecoin is located near the middle border of the Bollinger Bands indicator bars at 170.80. The abolition of the continuation of Litecoin growth will be the breakdown of the mid-range area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 155.20, indicating a change in the bearish trend 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.
