Litecoin Price Analysis: LTC Retreats After Trying To Break Past $180
Daily Litecoin LTC Price Forecast
- Litecoin price had dropped from $236 to $165 between February 20 and February 28.
- LTC has flashed the sell signal in the form of a green-nine candlestick.
Over the last two days, the Litecoin price has gone up from $165 to $178, bouncing up from the 50-day SMA (165). This followed a near $70 drop in valuation, wherein LTC dropped from $236 to $165 between February 20 and February 28.
Litecoin Price Tries To Recover
As of now, the Litecoin price faces a strong resistance at $185. As things stand, the LTC buyers have completely lost their momentum near the $175 level. The relative strength index is hovering horizontally next to the oversold zone.
Image: LTC/USD daily
LItecoin price faces a strong resistance level at $185. Previously, at this level, 56,000 addresses had purchased 2.56 million LTC tokens. On the downside, there are two healthy support walls at 50-day SMA ($165) and $150.
The 4-hour Litecoin price chart has flashed the sell signal in the form of a green-nine candlestick. As such, a drop in price is expected.
Image: LTC/USD 4hour
Litecoin Price Is Expected To Reach These Levels
The Litecoin price may soon crumble under the bearish pressure and drop to the 50-day SMA ($165).