Litecoin Price Analysis: LTC Flashes Multiple Buy Signals, Reaches $200

Last Updated July 23rd 2021
1 Min Read

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.

ltc/usd daily chart 031021

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).

ltc/usd volume chart 031021

Image: IntoTheBlock

The 4-hour Litecoin price chart shows three different buy signals:

  1. The MACD shows sustained bullish momentum.
  2. The 20-bar SMA has crossed over the 200-bar SMA to form the bullish cross.
  3. The Bollinger band has started expanding, which shows that price volatility is no longer low.

ltc/usd 4-hour chart 031021

Image: LTC/USD 4-hour

Litecoin Price Is Expected To Reach These Levels

The Litecoin price should touch the $220 resistance barrier.

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