Cryptocurrency Litecoin (LTC/USD) is trading at 196.73. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A level test of 210.50 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with a target near the level of 165.20.
Litecoin (LTC/USD) forecast and analysis on March 8, 2018
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator bars at 218.50. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 230.20, 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.