- Litecoin price re-enters the Bollinger Band.
- RSI jumps back into the neutral zone.
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 Re-enters Bollinger band
This Wednesday, the Litecoin price jumped from $107 to $117. Prior to this jump LTC was oversold since the relative strength index (RSI) was hovering below 30 and the price was trending underneath the Bollinger Band. However, both these metrics have normalized ever since.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at $120. As per the IOMAP, nearly 100,000 addresses had purchased almost 1 million LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
When Litecoin price overcomes the $120 resistance, it will hit the 20-day SMA ($130).