Litecoin Price Prediction: LTC Approaches The $300 Psychological Level

Daily Litecoin LTC Technical Analysis

Last Updated July 23rd 2021
2 Min Read
  • Litecoin price has a robust support wall on the downside at the 20-day SMA.
  • The MACD is on the verge of reversing from bullish to bearish.
  • On April 26, the Litecoin price bounced up from the 50-day SMA and jumped from $225 to $275, gaining almost $50 in its overall valuation till May 1. During this upward surge, LTC managed to flip the 20-day SMA from resistance to support. 

    Litecoin Price Sentiment Reversed From Negative to Positive

    Following this jump, the digital silver had been hovering around $275, for two days. However the buyers then kicked into overdrive as the Litecoin price reached $300. The parabolic SAR has reversed from negative to positive. The relative strength index (RSI) is on the verge of entering the overbought zone, so further growth could be difficult.

    Image: LTC/USD daily

    LTC/USD daily chart 050421

    Looking at the IOMAP, the $300 resistance barrier is pretty solid. Around 16,500 addresses had purchased a little more than 203,000 LTC tokens here.

    Image: IntoTheBlock

    LTC/USD volume chart 050421

    Popular Crypto Strategist Says He’s Buying Dogecoin and Litecoin 

    Popular crypto strategist known as Angelo recently said that they are accumulating Dogecoin (DOGE) and Litecoin (LTC). They took to Twitter to say that they are planning to hold on to their massive Dogecoin position until the crypto asset hits its price target. 

    I am officially a DOGE bag holder. Target: $1 Liquidation Price: $0

    Game plan: ‘Make it back in 1 trade. 

    According to the tweet, Angelo is down over $8.28 million on their Dogecoin holdings, but they said the paper loss is not a concern. They also highlighted that DOGE, which started as a joke, is now carving out a niche in the crypto sector and establishing a clear use case. 

    I am officially a Dogecoin maximalist. We are witnessing DOGE become the currency of the internet. Accept it. $1 has been programmed… DOGE continues to bring financial freedom to the masses. If you are against this, that is your problem, not ours. 

    As for Litecoin, Angelo believes that the Bitcoin fork is ready to generate gains of over 30% in the short term from its current price of $270.

    Today is a great day to be LONG AND STRONG. It’s also a great day to market buy more Litecoin. See you at $400.

    Litecoin Price Is Expected To Reach These Levels

    Having crossed the $275 level, the Litecoin price will now need to cross the $300 line to carry this upward momentum.

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