Cryptocurrency Litecoin (LTC/USD) is trading at 61.86. The average line of the indicator is located 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 upper border of the Bollinger Bands indicator bars. A level test 60.50 is expected, from which one should expect an attempt to continue growth and further develop an upward trend with a target close to level 65.60.
Litecoin (LTC/USD) forecast and analysis on November 16, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 57.30. The abolition of the continuation of Litecoin growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 56.30, which indicates a change in the trend in favor of the bearish for LTC/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.