Cryptocurrency Litecoin (LTC/USD) is trading at 200.62. 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 test the lower boundary of the bands of the Bollinger Bands indicator. A test of the level of 217.90 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 170.50.
Litecoin (LTC/USD) forecast and analysis on January 17, 2018
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator bars at the level of 232.80. 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 the pair quotes above the area of 260.20, 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.
