Litecoin Price Analysis: LTC Breaks Below Ascending Triangle

Last Updated July 23rd 2021
1 Min Read

Daily Litecoin LTC Price Forecast
  • The upward trending line for Litecoin price is 2 months old.
  • However, LTC could potentially jump to $230.

Litecoin price dropped from $225 on March 14 to $175, as of writing. During this drop, the digital silver fell below the 20-day SMA, 50-day SMA, and the ascending triangle. Let’s take a closer looks with technical analysis.

Litecoin Price Breaks Below 2-Month Trending Line

The Litecoin price has flashed a red-nine candlestick in the TD sequential detector, but LTC mitigated the buy signal. The 2-month ascending trending line is a powerful support level, which the bears were able to eradicate.

ltc/usd daily chart 032621

Image: LTC/USD daily

Now, when we zoom out and look at the Litecon price daily chart, it seems like LTC will eventually hit $230, at the very least.

ltc/usd 4-hout chart 032621

Image: LTC/USD daily

As per the IOMAP, the Litecoin price has a healthy support at $175 . Previously, at this level, over 92,000 addresses had purchased a little above 4 million LTC tokens.

ltc/usd volume chart 032621

Image: IntoTheBlock

Litecoin Price Is Expected To Reach These Levels

The Litecoin price will need to break back into the triangle formation and reach the $230 line.

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