Cryptocurrency Litecoin (LTC/USD) is trading at 111.61. Quotes of the currency 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 125.20 is expected, from which one should expect an attempt to continue the decline and further development of a downward trend with a target close to the level of 80.50.
Litecoin (LTC/USD) forecast and analysis on February 7, 2018
The conservative area for sales of Litecoin is located near the middle border of the Bollinger Bands indicator strip at 140.20. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes above the 150.60 area, 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.