Cryptocurrency Litecoin (LTC/USD) is trading at 174.40. 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 bands of the Bollinger Bands indicator. A test of the level of 184.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target close to level 155.10.
Litecoin (LTC/USD) forecast and analysis on January 31, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator strip at 192.40. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of quotations of the pair above the area of 220.50, 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.
