Litecoin Price Prediction: LTC Faces Strong Resistance At $205

Daily Litecoin LTC Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • 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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