Cryptocurrency Litecoin (LTC/USD) is trading at 54.62. 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 level 56.20 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 49.50.
Litecoin (LTC/USD) forecast and analysis on October 30, 2017
The conservative area for sales of Litecoin is located near the upper boundary of the Bollinger Bands indicator strip at the level of 57.50. The abolition of the continuation of the fall of the LTC/USD pair will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 60.20, 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.