Litecoin Price Analysis: LTC Breaks Critical Support

Daily Litecoin LTC Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price has had three straight bearish sessions.
  • The relative strength index (RSI) shows that LTC will drop a little more.
  • Following a drop from $192.50 to $160 between June 4 and June 8. Since then, LTC has been hovering horizontally till June 17 around $170. However, since then, the sellers have taken full control of the market and crashed the price down.

    Litecoin Price Drops Below Crucial Level

    Litecoin price had five bearish sessions out of the last 6 during which it dropped from $180 to $150 – losing almost $30 in its total valuation and flipping the 20-day SMA. The Bollinger Band has started expanding a little bit which shows us that the volatility is increasing. The relative strength index (RSI) indicates that LTC will drop some more.

    Image: LTC/USD daily

    LTC/USD daily chart 062121

    Looking at Into The Block’s IOMAP, the Litecoin price is dropping towards the $140 support wall. Previously, at this level, 30,300 addresses had purchased almost 965,000 LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 062121

    Litecoin Becomes Lunar Crush Coin of The Day

    Litecoin tweeted:

    “#Litecoin is Today's Coin of the Day according to the social ranking by our friends at @LunarCRUSH Happy #FathersDay @SatoshiLite Top Influencers are @JohnkimLTC @CryptoTony__ @MASTERBTCLTC @Ehrls15”

    Litecoin Price On-Chain Analysis

    LTC/USD glassnode chart 062121

    "$LTC Amount of HODLed or Lost Coins just reached a 1-month high of 17,122,467.592 LTC."

    Litecoin Price Is Expected To Reach These Levels

    The Litecoin price will likely drop towards the $140 support wall. A further break will take LTC to the $130 psychological level.

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