Litecoin LTC/USD is trading at $329.88. The cryptocurrency quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for Litecoin. At the moment, the cryptocurrency quotes are moving near the upper limit of the Bollinger Bands indicator bands.
Cryptocurrency Litecoin LTC/USD forecast for May 9, 2021
As part of the Litecoin exchange rate forecast, a test of the $321.50 level is expected. Where to expect an attempt to continue the growth of LTC/USD and further development of the upward trend. The target of this movement is the area near the level of $364.20. The conservative area for Litecoin purchases is located near the lower border of the Bollinger Bands indicator at the level of $248.20.
Cryptocurrency Litecoin LTC/USD signal for May 9, 2021
The cancellation of the option to continue the growth of the Litecoin rate will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes below the area of $246.50. This will indicate a change in the current trend in favor of a bearish one for LTC/USD. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
Cryptocurrency Litecoin LTC/USD forecast for today, May 9, 2021 suggests a test of the level of 321.50. Further growth is expected to continue in the area above the level of $364.20. The conservative purchase zone is located near the area of $248.20. The cancellation of the growth option of the cryptocurrency will be a breakdown of the level of $246.50. In this case, we should expect the fall to continue.