Litecoin Price Analysis: Here is How LTC could Drop to $100
Daily Litecoin LTC Price Forecast
- The Litecoin price has had eight straight bearish sessions.
- LTC has crucial support at around $110.
The Litecoin price had eight bearish sessions between July 12 and July 19, during which LTC fell from $134 to $113.50, after encountering resistance at the 20-day SMA. Before this, LTC was hovering horizontally between $130 and $135 between July 8 and July 12.
Litecoin Price Could Drop For Two More Sessions
Over the last seven days, the TD sequential detector has flashed 1-7 red candlesticks. According to the daily Litecoin price chart, LTC could drop for two more sessions before bouncing up. The MACD indicates sustained bearish market momentum.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price must not break below the crucial support at $110. As per the IOMAP, nearly 8,000 addresses had purchased almost 145,000 LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
If the $110 support line doesn’t stay strong, the Litecoin price will drop to the $100 psychological level.