Cryptocurrency Litecoin (LTC/USD) is trading at 238.93. 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 cryptocurrency quotes test the average border of the Bollinger Bands indicator bars. A test of the level of 224.50 test is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 300.50.
Litecoin (LTC/USD) forecast and analysis on January 9, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator bars at 206.70. 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 quotes below the area of 170.20, which indicates a change in the trend in favor of 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.