Cryptocurrency Litecoin (LTC/USD) is trading at 253.10. 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 Bollinger Bands indicator. A test of the level of 230.20 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 320.80.
Litecoin (LTC/USD) forecast and analysis on January 7, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 195.40. The abolition of the continuation of Litecoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations below the area of 165.50, indicating a change in the trend in favor of the bearish 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.
