- 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
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.
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.