Cryptocurrency Litecoin (LTC/USD) is trading at 126.73. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bars.
As part of the Litecoin course forecast, a test level of 133.80 is expected. Where can we expect an attempt to continue the fall in LTC / USD and the further development of the downward trend. The purpose of this movement is the area near the level of 109.50. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator strip at 148.80.
Cancellation of the option to continue the decline in the Litecoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and closing of quotations of the pair above the 151.20 area. This will indicate a change in the current trend in favor of the bullish for LTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast and analysis on January 29, 2021 implies a test level of 133.80. Further, the continuation of the fall to the area below the level of 109.50 is expected. The conservative area for selling is located area of 148.80. Cancellation of the option of falling cryptocurrency will be a breakdown of the level of 151.20. In this case, we should expect continued growth.