Litecoin LTC/USD trading forecast for today May 12, 2021
Litecoin LTC/USD is trading at 354.55 USD. 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 average border of the bands of the Bollinger Bands indicator.
Cryptocurrency Litecoin LTC/USD trading forecast for today May 12, 2021
As part of the Litecoin exchange rate forecast, a test of the 336.40 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 415.80. The conservative area for Litecoin purchases is located near the lower border of the Bollinger Bands indicator at the level of 315.60.
Cryptocurrency Litecoin LTC/USD signal for today May 12, 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 310.20. 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.
Litecoin LTC/USD forecast for today, May 12, 2021 suggests a test of the level of 336.40. Further growth is expected to continue in the area above the level of 415.80. The conservative buy zone is located near the area of 315.60. The cancellation of the growth option of the cryptocurrency will be the breakdown of the level of 310.20 USD. In this case, we should expect the fall to continue.