Cryptocurrency Litecoin (LTC/USD) is trading at 155.21. 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 level 163.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with the target near the level of 130.20.
Litecoin (LTC/USD) forecast and analysis on March 16, 2018
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator bars at 190.20. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 210.00, 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.