Cryptocurrency Litecoin (LTC/USD) is trading at 162.56. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 173.50 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 130.50.
Litecoin (LTC/USD) forecast and analysis on March 10, 2018
The conservative area for sales of Litecoin is located near the middle border of the Bollinger Bands indicator bars at 190.50. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 200.50, 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.