Litecoin Price Analysis: LTC Flashes Multiple Buy Signals, Reaches $200
Daily Litecoin LTC Price Forecast
- The parabolic SAR in the daily Litecoin price chart has reversed from bearish to bullish.
- In the 4-hour LTC chart, the 20-bar SMA is about to cross over the 200-bar SMA to form a bullish cross.
Since March 1, The Litecoin price bounced up from the 50-day SMA, and jumped from $165 to $200, gaining almost $35 in its overall valuation. Over the last four days, the LTC price has been under complete control of the buyers.
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The daily Litecoin price chart has flashed two different buy signals:
- Flipping the 20-day SMA from resistance to support.
- Reversing the parabolic SAR from bearish to bullish.
The relative strength index (RSI) is trending horizontally around the 57-mark, which shows that LTC still has space to grow.
Image: LTC/USD daily
On the upside, there is a moderate resistance barrier at $220. Previously, at this level, 50,000 addresses had purchased 824,000 LTC tokens. On the downside, there are two healthy support walls at $185 and 50-day SMA ($175).
The 4-hour Litecoin price chart shows three different buy signals:
- The MACD shows sustained bullish momentum.
- The 20-bar SMA has crossed over the 200-bar SMA to form the bullish cross.
- The Bollinger band has started expanding, which shows that price volatility is no longer low.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
The Litecoin price should touch the $220 resistance barrier.