Litecoin Price Prediction: LTC Falls Below Key Level
Daily Litecoin LTC Technical Analysis
- Litecoin price reversed the 20-day SMA from support to resistance.
- The MACD shows increasing bearish market momentum.
After trending horizontally above the 20-day SMA for the last five days, the bears finally managed to break Litecoin price below. As things stand, LTC has dropped below the $200 psychological level.
Litecoin Price Drops Below $200
The MACD shows increasing bearish market momentum, which shows that the Litecoin price may drop even more. As things stand, LTC is currently sandwiched between the 20-day and 50-day SMAs.
Image: LTC/USD daily
On the downside, the strongest support wall lies at the 50-day SMA ($185) wherein previously, 55,500 addresses had purchased 1.95 million LTC tokens.
The Litecoin price in the 4-hour time frame is going through a period of low volatility as evidenced by the squeeze in the Bollinger Band.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach Thes Levels
The Litecoin price will probably keep trending around the $200 level.