Cryptocurrency Litecoin (LTC/USD) is trading at 60.43. 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 test the upper boundary of the bands of the indicator Bollinger Bands. A level test of 57.80 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near level 66.20.
Litecoin (LTC/USD) forecast and analysis on November 9, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 50.70. 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 quotations below the area of 49.30, 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.
