Cryptocurrency Litecoin (LTC/USD) is trading at 53.42. 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 Bollinger Bands indicator bars. A test of level 54.80 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near level 48.10.
Litecoin (LTC/USD) forecast and analysis on November 7, 2017
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator strip at 55.20. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper range 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 56.80, indicating a change in the trend in favor of the bullish 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.