Cryptocurrency Litecoin (LTC/USD) is trading at 50.30. 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 cryptocurrency quotes test the average border of the Bollinger Bands indicator bars. A test of the level of 51.50 is expected, from which one should expect an attempt to continue the decline and further development of the downward trend with the target near the level of 45.20.
Litecoin (LTC/USD) forecast and analysis on October 13, 2017
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator strip at the level of 51.70. 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 quotes above the area of 53.80, 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.