Litecoin Price Analysis: LTC Crosses The $200 Psychological Level
Daily Litecoin LTC Price Forecast
- Litecoin price buyers have been in control for 7 straight days.
- LTC is still flashing multiple buy signals.
Over the last seven days, the Litecoin buyers have been in complete control of the market. During this surge, LTC jumped from $170 to $205 – gaining almost $35 in its overall valuation. Let’s take a closer with technical analysis.
Litecoin Price Crossed Above the 20-day And 50-day SMAs
During the Litecoin price upward surge, the buyers managed to flip the 20-day and 50-day SMAs from resistance to support. Plus, the parabolic SAR has been reversed from negative to positive, which shows that the overall market sentiment is extremely optimistic. Finally, the MACD indicates that the market momentum has reversed from bearish to bullish.
Image: LTC/USD daily
Looking at the IOMAP, the Litecoin price may jump till $230 before it encounters heavy resistance at $230, wherein 37,500 addresses have purchased 2 million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
Litecoin price is going to jump till the $230 resistance barrier.