Cryptocurrency Litecoin (LTC/USD) is trading at 50.83. 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 level test of 53.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near level 48.10.
Litecoin (LTC/USD) forecast and analysis on November 3, 2017
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator bands at 58.15. 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 area of 59.20, 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.