Cryptocurrency Litecoin (LTC/USD) is trading at 166.99. 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 quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 160.50 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 180.50.
Litecoin (LTC/USD) forecast and analysis on May 9, 2018
The conservative buying area for Litecoin is located near the lower border of the Bollinger Bands indicator strip at 158.20. The abolition of the continuation of Litecoin growth will be the breakdown of the lower border area of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 150.20, which indicates a change in the trend in favor of the bearish for LTC/USD. In the event of a breakdown of the upper boundary of the bands of the Bollinger Bands indicator, one should expect an acceleration of growth.
