Litecoin Price Prediction: LTC Faces Tough Resistance At $375

Daily Litecoin LTC Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • Litecoin price reached a new all-time high of $413 this Monday.
  • The MACD shows that LTC goes through increasing bullish market momentum.
  • This Monday, the Litecoin price reached its all-time high of $413 before retreating down all the way to $360. Before that, LTC had jumped from $225 to $388 between April 26 and May 9 having bounced up from the 50-day SMA.

    Litecoin Price Comeback Paused By $375

    Following a bearish Monday, the buyers took charge of the market as Litecoin price jumped from $360 to $374. The relative strength index is on the verge of entering the overbought zone, so a jump to $400 is still in the cards before LTC gets overvalued. The MACD shows that the present market sentiment is still positive.

    Image: LTC/USD daily

    LTC/USD daily chart 051221

    Looking at the IOMAP, the buyers face strong resistance at $375. Previously, at this level, over 3,300 addresses had purchased >95,000 LTC tokens. 

    Image: IntoTheBlock

    LTC/USD volume chart 051221

    Litecoin Price Is Expected To Reach These Levels

    As of now, the Litecoin price is running towards the $375 resistance barrier. If the bulls maintain their momentum, they should be able to take down this line and aim for the $400 psychological level.

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