Cryptocurrency Litecoin (LTC/USD) is trading at 55.77. 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 cryptocurrency are moving near the upper border of the Bollinger Bands indicator bars. A test of the level of 56.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 50.50.
Litecoin (LTC/USD) forecast and analysis on October 31, 2017
The conservative sales area for Litecoin is near the upper boundary of the Bollinger Bands indicator strip at 56.70. The abolition of the continuation of the fall of the LTC/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the quotes of the pair above the area of 57.80, 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.