Litecoin Price Analysis: LTC May Break Above Its Narrow Range Soon
Daily Litecoin LTC Price Forecast
- The Litecoin price volatility looks like it is steadily increasing.
- The MACD shows sustained bullish market momentum.
The Litecoin price has been hovering between $130 and $135 for the last seven days. Before this, Litecoin crashed from $180 to $120 between June 15 and June 21. The Litecoin price has encountered continuous resistance at the 20-day SMA.
Litecoin Price To Continue Sluggish Movement
As of writing, the Litecoin price is hovering around $131. The MACD shows sustained bullish market momentum, so it seems like the buyers still have the edge. The Bollinger Band has also started expanding to show increasing volatility. All these factors point at the LTC break range any time soon.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price has crucial support at $130. As per the IOMAP, nearly 72,000 addresses had purchased almost 780,000 LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
With the volatility increasing, it seems like LTC may break above the 20-day SMA soon. However, the IOMAP shows that there are several strong resistance barriers on the upside.