Litecoin (LTC/USD) forecast and analysis on October 11, 2017

Cryptocurrency Litecoin (LTC/USD) is trading at 49.97. 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 test the lower border of the bands of the indicator Bollinger Bands. A test of level 48.10 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target close to level 59.10.

Litecoin (LTC/USD) forecast and analysis on October 11, 2017

Litecoin (LTC/USD) forecast and analysis on October 11, 2017

The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 49.20. 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 the period of 55 and the closing of the pair quotes below the area 48.50, which will indicate a change in the trend in favor of the bearish on 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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