Cryptocurrency Litecoin (LTC/USD) is trading at 49.72. 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 crypto currency are moving near the lower border of the Bollinger Bands indicator bars. A test of level 290.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 45.20.
Litecoin (LTC/USD) forecast and analysis on October 12, 2017
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator strip at the level of 53.60. 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 quotations above 54.80, 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.