Litecoin Price Prediction: LTC Crashes Below Key Levels
Daily Litecoin LTC Technical Analysis
- Litecoin price in the daily chart reversed the 50-day SMA from support to resistance.
- The MACD shows increasing bearish market momentum.
Litecoin price has from $235 on February 20 to $159 as of writing. As things stand, LTC is breaking towards the $150 psychological level.
Litecoin Price Breaks Below 50-day SMA
Over the last five days, the Litecoin price has dropped from the $180 resistance line and dropped to $159, breaking below the $175 line as well. In the process, the 50-day SMA has been flipped from support to resistance, while the MACD shows increasing bearish momentum.
Image: LTC/USD daily
Of course the immediate level of concern for Litecoin price is at the $150 support line. Previously, at this level, 67,400 addresses had purchased around 1.2M LTC tokens. A break below this line will take Litecoin to the $135 support barrier.
The Litecoin price 4-hour chart shows us that LTC is about to flash a buy signal soon in the form of a red-nine candlestick. So it could mean that the buyers are going to come in soon after the price dips a little bit more.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach This Level
Litecoin price may drop to the $150 support line before the bulls rush back in.