Cryptocurrency Litecoin (LTC/USD) is trading at 132.84. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bars.
As part of the Litecoin course forecast, a test level of 121.40 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 173.50. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 121.00.
Cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the lower border area of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the 110.50 area. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.
Litecoin (LTC/USD) forecast on February 1 — 7, 2021 implies a test level of 121.40. Further, growth is expected to continue to the area above the level of 173.50. The conservative area for buying is located area of 121.00. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 110.50. In this case, we should expect the fall to continue.