Litecoin Price Prediction: LTC Aims For $150 Resistance
Daily Litecoin LTC Technical Analysis
- Litecoin price has flipped the 20-day and 50-day SMAs from resistance to support.
- LTC faces strong resistance at $150.
After trending horizontally for a bit, the Litecoin price jumped up from $130 to $145. It looks like LTC is aiming for the $150 barrier as bulls take full control of the daily chart. Let’s take a closer look with technical analysis.
Litecoin Price Flips Key Levels
Over the last two days, the Litecoin price has managed to flip the 20-day and 50-day SMAs from the resistance to support. The relative strength index (RSI) still has a lot of room to grow before it enters the overbought zone, which shows that LTC still has good growth potential.
Image: LTC/USD daily
IntoTheBlock’s IOMAP seems like the Litecoin price is sitting below a strong resistance barrier at $150. Previously, at this barrier, 45,000 addresses had purchased 831,000 LTC tokens. If the price breaks above $150, it should reach $165.
When we see the 4-hour Litecoin price chart, we can see that LTC managed to have six straight bullish sessions, where the buyers flipped the 20-bar, 50-bar, and 200-bar SMAs from resistance to support. Plus, the 20-bar SMA has crossed over the 50-bar to form a bullish cross pattern.
Image: LTC/USD 4-hour
Litecoin is Expected To Reach These Levels
We expect Litecoin price to touch the $150 resistance with so many positive technicals and aim to break past it.