Litecoin Price Analysis: LTC Fails To Break Above Key Level
Daily Litecoin LTC Price Forecast
- 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
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.
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.