Litecoin Price Analysis: LTC Fails To Break Above Key Level

Daily Litecoin LTC Price Forecast

1 Min Read
Last Updated July 23rd 2021
  • Litecoin price crashed from $310 to $225 between April 17 and April 25.
    • LTC falls after failing at two critical levels.

    Between April 17 and April 25, the Litecoin price dropped from $310 to $225, losing almost $85 in its overall valuation. During this downward plunge, LTC managed to break below the 20-day SMA. However, the 50-day SMA has remained firm and provided healthy support.

     

    Litecoin Price Rose By Almost 10% Today

    This Monday, the Litecoin price flashed the buy signal in the form of a red-nine candlestick in the TD sequential detector and jumped from $223 to $259. However, the 20-day SMA remained firm and dropped LTC to $255. The  MACD shows decreasing bearish momentum.

    Image: LTC/USD daily

    LTC/USD daily chart 042821

    The next viable level of resistance for Litecoin price is at the 20-day SMA ($255). Previously, at this level, >58,000 addresses had purchased a little over 2.15 million LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 042821

    Litecoin Price Is Expected To Reach These Levels

    Litecoin price will likely struggle to cross the 20-day SMA ($255). However, if it does, LTC will jump till $265.

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