Cryptocurrency Litecoin (LTC/USD) is trading at 257.40. 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 are moving near the upper border of the Bollinger Bands indicator bars. A test of the level of 235.40 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target close to level 316.50.
Litecoin (LTC/USD) forecast and analysis on January 8, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 190.50. The abolition of the continuation of Litecoin growth will be the breakdown of the lower border area of the Bollinger Bands indicator strip, as well as the moving average with a period of 55, and the closing of the pair quotes below the 160.50 area, indicating a change in the bearish trend for LTC/USD. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, one should expect an acceleration of growth.
