Cryptocurrency Litecoin (LTC/USD) is trading at 56.24. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Litecoin. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A 58.70 level test is expected, from which one should expect an attempt to continue the decline and further development of the downward trend with the target near level 52.20.
Litecoin (LTC/USD) forecast and analysis on October 19, 2017
The conservative area for sales of Litecoin is located near the upper border of the Bollinger Bands indicator strip at 67.30. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper range 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 68.80, 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.