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