Litecoin (LTC/USD) forecast and analysis on October 10, 2017

Cryptocurrency Litecoin (LTC/USD) is trading at 52.35. 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, quotes of the pair move near the middle border of the bands of the indicator Bollinger Bands. A test of level 51.25 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 58.90.

Litecoin (LTC/USD) forecast and analysis on October 10, 2017

Litecoin (LTC/USD) forecast and analysis on October 10, 2017

The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at level 50.46. The abolition of the option of continuing Litecoin growth will be the breakdown of the lower border area along the Bollinger Bands indicator, as well as the moving average with a period of 55, and the closing of the pair quotations below the area 49.10, which indicates a change in the bearish trend 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.

 

 


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