Litecoin Price Analysis: LTC Re-enters $120 Psychological Level

Daily Litecoin LTC Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price flashed the buy signal in the TD sequential detector.
  • LTC faces strong resistance at the 20-day SMA.
  • This Thursday, the Litecoin price jumped and re-entered the $120 psychological level. Between July 12 and July 20, The Litecoin price crashed from $134 to $107, after encountering resistance at the 20-day SMA. Before this, LTC was hovering horizontally between $130 and $135 between July 8 and July 12.

    Litecoin Price Goes Up After Flashing Buy Signal

    This Wednesday, the Litecoin price flashed the buy signal in the form of a red-nine candlestick in the TD sequential detector. Following that, LTC jumped from $107 to $121. With two straight bullish days, it seems that the buyers are on quite a roll.

    Image: LTC/USD daily

    LTC/USD daily chart 072321

    Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the 20-day SMA ($130). As per the IOMAP, nearly 116,000 addresses had purchased almost 2 million LTC tokens here.

    Image: IntoTheBlock

    LTC/USD volume chart 072321

    Litecoin Price Is Expected To Reach These Levels

    When Litecoin price overcomes the 20-day SMA, it should touch the 50-day SMA ($150) and reverse the parabolic SAR from negative to positive.

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