Litecoin Price Analysis: LTC Flashes Bearish Cross With 200-day and 20-day SMAs

Daily Litecoin LTC Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price has strong resistance at $180.
  • The RSI is trending along the edge of the oversold zone.
  • Since May 25, the Litecoin price has been trending in a $35 channel between the $165 and $200 psychological levels. Prior to this, LTC had crashed by 65% as it dropped from $388 to $140 between May 10 and May 23. Let’s take a closer look with technical analysis.

    Litecoin Price Flashes Bearish Cross

    Looking at the Litecoin price daily chart, the 200-day SMA has crossed above the 20-day SMA and has formed the bearish cross. This confluence is at $180, which provides considerable resistance. Over the last four days, LTC has failed at the 20-day SMA and has crashed from $192.50 to $165.

    Image: LTC/USD daily

    LTC/USD daily chart 060821

    Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the confluence of the 20-dat and 200-day SMAs ($182). Previously, at this level, 181,500 addresses had purchased almost 5.44 million LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 060821

    Litecoin Price Is Expected To Reach These Levels

    Looking at the Litecoin price daily chart, the buyers need to break above the 20-day SMA and 50-day SMA to prevent the current downtrend and conquer the $200 psychological level.

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