Litecoin Price Analysis: LTC Struggles To Close Candle Above 20-day And 50-day SMAs

Last Updated July 23rd 2021
1 Min Read

Daily Litecoin LTC Price Forecast
  • Litecoin price has been under bullish control for five straight days.
  • MACD shows that market momentum is about to flip from bearish to bullish.

The bulls have been in constant control of the Litecoin price. During this 5-day surge, LTC rose from $170 to $196, gaining almost $26 in its overall valuation. Let’s take a closer look with tech technical analysis.

Litecoin Price Stopped On Its Track By The Two SMAs

Following the $25 surge in Litecoin price, the buyers have found heavy resistance near the $200 psychological level. Looking at the daily chart, we can see that the confluence of the 20-day and 50-day SMAs have stopped this upward surge.

ltc/usd daily chart 033121

Image: LTC/USD daily

As per the IOMAP, around 106,000 addresses have entered the market here by buying 2 million LTC tokens. If the buyers conquer this zone, Litecoin price will rise till $225,

ltc/usd volume chart 033121

Image: IntoTheBlock

Litecoin Price Is Expected To Reach These Levels

The Litecoin price will attempt to cross the $200 psychological zone.

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