Litecoin Price Analysis: LTC Stuck Between Two Strong Levels
Daily Litecoin LTC Price Forecast
- Litecoin price has flipped the parabolic SAR from negative to positive.
- The MACD is on the verge of reversing from bearish to bullish.
On May 30 and May 31, LTC rose up from $164 to $187, flipping the 200-day SMA from resistance to support. Following that, the Litecoin price has been trending horizontally around the $185 psychological level. Prior to that, LTC had crashed by 65% as it dropped from $388 to $140 between May 10 and May 23.
Litecoin Price Flips Parabolic SAR
As things stand, the Litecoin price is hovering along the $185 psychological level and sitting on top of the 200-day SMA. This Monday, LTC has reversed the parabolic SAR from negative to positive. Plus, the MACD is on the verge of reversing from red to green. All this tells us that the current Litecoin market sentiment is bullish.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price faces resistance at the $200 psychological barrier. As per the IOMAP, 48,000 addresses had purchased almost 1.36 million LTC tokens at this level.
Litecoin Price Is Expected To Reach These Levels
Looking at the Litecoin price daily chart, the buyers need to break above the $200 psychological level. If they manage to do that, LTC will reach the 20-day SMA.