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Litecoin Price Prediction: LTC Faces Strong Resistance At $205

Daily Litecoin LTC Technical Analysis

1 Min Read
Last Updated April 5th 2021
  • Litecoin price bounced up from the 50-day SMA.
  • The MACD shows increasing bullish momentum.

Looking at the Litecoin price daily chart, LTC rose up from $170 to $211 between March 26 to April 2 – rising up by almost $40. Since then, the bears took control and dropped the digital silver to $195, wherein it found support at the 50-day SMA.

Litecoin Price Found Healthy Support At the 20-day and 50-day SMAs

The Litecoin price bounced up from the 50-day SMA and went up to $203. As such, the daily LTC chart shows us two positive buy signals:

  1. The parabolic SAR has flipped from bearish to bullish.
  2. The MACD shows sustained bullish market momentum.

Image: LTC/USD daily

ltc/usd daily chart 040521

Looking at the IOMAP, the closest resistance barrier is at $205. Previously, at this level, 80,000 addresses had purchased almost 1.8 million LTC tokens.

Image: IntoTheBlock

ltc/usd volume chart 040521

Now, when you look at the daily active addresses over the last 7 days, it shows that the network is weakening. On March 30, the number of addresses entering Litecoin reached a weekly high of 137,000. Since then, the number of addresses entering has steadily decreased to 123,300.

Image: IntoTheBlock

Daily Active Addresses

Litecoin Price Is Expected To Reach These Levels

Litecoin price will likely have some trouble to break the $205 resistance barrier.

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