Cryptocurrency Litecoin (LTC/USD) is trading at 42.64. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend in Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.
Litecoin (LTC/USD) forecast and analysis on May 23, 2020
As part of the Litecoin exchange rate forecast, a test level of 44.00 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 39.70. The conservative sales area for Litecoin is located near the upper border of the Bollinger Bands indicator strip at 46.10.
Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 46.80. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on May 23, 2020 implies a test level of 44.00. Further, it is expected to continue falling to the area below the level of 39.70. The conservative sales area is located is near the area of 46.10. The cancellation of the option of falling cryptocurrency will be a breakdown of the level of 46.80. In this case, we should expect continued growth.