Litecoin Price Analysis: LTC Breaks Above The $150 Psychological Level
Daily Litecoin LTC Price Forecast
- Litecoin price has flipped the 20-day and 50-day SMAs from resistance to support.
- The LTC 4-hour chart has flashed the green-nine candlestick in TD sequential indicator.
Over the last three days, the Litecoin price has jumped from $130 to $151, flipping the 20-day and 50-day SMAs from resistance to support. Let’s take a closer look with technical analysis and see what’s going on behind the scenes.
Litecoin Price Breaks Past $150 Psychological Level
The bulls have taken control of Litecoin price after bouncing up from the $130 support line. During this surge, LTC flipped the 20-day and 50-day SMA from resistance to support.
Image: LTC/USD daily
Looking at the parabolic SAR, we can see that LTC was on the verge of flipping the overall market sentiment from bearish to bullish. Plus, IntoTheBlock’s IOMAP shows a lack of strong resistance levels upfront.
Looking at the 4-hour Litecoin price chart, we can see that it has flashed green-nine candlestick in the TD sequentially. This is a pretty negative sign, since the last time LTC showed this signal, it lost $10 of its overall valuation.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Litecoin price has crossed over the $150 psychological level. However, it is going to be consolidating around this zone instead of making more significant gains.