Litecoin Price Prediction: LTC Has Crept Above The $130-Mark
Daily Litecoin LTC Technical Analysis
- Litecoin price has managed to flip the 50-day SMA from resistance to support.
- The 20-bar SMA in the 4-hour LTC chart has blocked the price.
The Litecoin price fell from $180 to $120 between January 10 and January 27. During this drop, LTC managed to flip the 50-day SMA from support to resistance. However, the buyers have staged a fightback this Thursday.
Litecoin Price Counter Flips The 50-day SMA
The Litecoin price jumped from $120 to $130.50, regaining the $130 psychological level and flipping the 50-day SMA from resistance to support. As things stand, Litecoin faces one strong resistance level at the $135 resistance barrier.
Image: LTC/USD daily
As IntoTheBlock’s IOMAP shows us, previously at the $135 resistance barrier, 72,260 addresses had purchased 3.43 million LTC tokens. If the Litecoin price breaks past this level, it still faces moderate-to-strong resistance at $140 and $145.
The 4-hour Litecoin price chart shows us that the sellers have stepped back into the market after four straight bullish sessions. The parabolic SAR has reversed from bearish to bullish, yet the 20-bar SMA has blocked LTC.
Image: LTC/USD 4-hour
Despite this obstacle, the MACD shows increasing bullish momentum, so we can expect LTC to keep rising.
Litecoin Price Is Expected To Reach These Levels
If the Litecoin price manages to break past the 20-bar SMA and the $135 resistance barrier, it should reach $150. However, if LTC goes through a bearish correction, it may drop to the $128 support wall. This level is pretty strong since 51,000 addresses had previously purchased 2.25 million LTC tokens here.