Cryptocurrency Litecoin (LTC/USD) is trading at 135.53. 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 test of the level of 142.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 120.00.
Litecoin (LTC/USD) forecast and analysis on May 17, 2018
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator bars at 150.00. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the 160.00 area, 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.