Litecoin Price Prediction: LTC Bulls In Control For Three Straight Days
Daily Litecoin LTC Technical Analysis
- Litecoin price had flashed the buy signal in the daily chart.
- The 4-hour LTC has charted the bullish cross with the 20-day and 50-day SMAs.
Between February 20 and February 28, the Litecoin price had dropped from $237 to the $165, wherein it found support at the 50-day SMA. Since then, the buyers have taken control of LTC. Let’s take a closer look with technical analysis.
Litecoin Price Grows After Flashing Buy Signal
Over the last three days, the Litecoin price had jumped from $165 to $189 as the buyers took control. LTC had flashed a red-nine candlestick in the TD sequential indicator and then jumped up. The RSI is trending around 52, so it still has room to grow before Litecon gets overpriced.
Image: LTC/USD daily
IntoTheBlock shows moderate to strong resistance levels up front. IOMAP shows two strong resistance barriers at $190 and the 20-day SMA ($200) for Litecoin price. Previously at the $190 level, nearly 37,000 addresses had purchased 660,000 LTC tokens.
The 4-hour Litecoin price chart shows two bullish signals:
- The MACD shows increasing bullish market momentum.
- The 20-day SMA had crossed over the 50-day SMA to chart the bullish cross.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
The Litecoin price will likely aim for the 20-day SMA ($190) as the buyers stay in control.