Litecoin Price Prediction: LTC Drops Towards The 200-day SMA

Daily Litecoin LTC Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • Litecoin price flipped the 200-day SMA from resistance to support this Monday.
  • LTC crashed by ~65% from May 10 to May 23.
  • The Litecoin price crashed by ~$250 as it dropped from $388 to $140 between May 10 and May 23. During this crash, the digital silver managed to flip the 20-day, 50-day , and 200-day SMAs from support to resistance. Let’s take a closer look with technical analysis.

    Litecoin Price Reverses 200-day SMA From Resistance To Support

    Between May 24 and May 26, the Litecoin price jumped from $140 to $194, gaining over $50 in its overall valuation. During this jump, LTC managed to flip the 200-day SMA from resistance to support. However, the $195 resistance barrier has stopped this upward surge and pushed LTC down to $182.50.

    Image: LTC/USD daily

    TC/USD daily chart 052821

    Litecoin price has a robust support wall at the 200-day SMA. As per the IOMAP, >77,500 addresses had purchased almost 3.5 million LTC tokens at this level.

    Image: IntoTheBlock

    LTC/USD volume chart 052821

    Litecoin Price Is Expected To Reach These Levels

    Given the current market momentum, the Litecoin price is likely going to drop to the 200-day SMA. However, a break below that is unlikely.

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