Litecoin Price Prediction: LTC Aims To Take Down $160
Daily Litecoin LTC Technical Analysis
- Litecoin price aims to break past the $150 psychological level.
- MACD shows sustained bullish market momentum.
The Litecoin price crossed the $150 psychological level this Saturday, for the first time since June 21. Currently, LTC is priced at $155 as bulls look to take down $160 resistance. Since July 21, Litecoin has jumped from $107 to $155 – gaining almost $50 in its overall valuation.
Litecoin Price Faces Resistance At $160
Duo the aforementioned jump, the Litecoin price has flashed several bullish signals. Firstly, the 50-day SMA has flipped from resistance to support. Secondly, the parabolic SAR and MACD have reversed from red to green.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price has strong resistance at $160. As per the IOMAP, nearly 50,000 addresses had purchased almost 672,500 LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
If the Litecoin price takes down the $160 resistance barrier, it should reach $175.