Litecoin Price Analysis: LTC Has Started Price Recovery As $175 Line Holds Strong
Daily Litecoin LTC Price Forecast
- Parabolic SAR has reversed from bearish to bullish.
- Strong resistance barrier lies at $200, 20-day SMA.
After trending horizontally around $235, the Litecoin price finally crumbled under bearish pressure and dropped to the $175 support wall. During this drop, the LTC managed to reverse the parabolic SAR from positive to negative.
Litecoin Reverses Parabolic SAR From Bullish To Bearish
Along with flipping the 20-day SMA from support to resistance, the RSI has jumped deep into the neutral territory. The price has since improved to $180 under bullish supervision.
Image: LTC/USD daily
On top, Litecoin price has a moderate resistance barrier at the 20-day SMA ($200). Previously, at this level, 45,000 addresses had purchased nearly 2 million LTC tokens. On the downside, there are a couple of healthy support levels.
The 4-hour Litecoin price chart has flashed two buy signals:
- Flipping the 200-bar SMA form resistance to support.
- Reversing the MACD from bearish to bullish.
Image: LTC/USD 4-hour
Litecoin Price Is Expected to Reach These Levels
If the buyers remain in control of Litecoin price, it will definitely reach the 20-day SMA ($200).