Litecoin Price Prediction: LTC Hovers Between Resistance And 20-day SMA
Daily Litecoin LTC Technical Analysis
- Litecoin price had a bullish session after four straight bearish sessions.
- LTC still flashes multiple sell signals in the daily chart.
- The MACD is on the verge of flipping from positive to negative.
- The parabolic SAR shows that market sentiment has reversed form positive to negative.
The Litecoin price reached an intraday high of $340 on Saturday before it crashed down to $245, found support at the 20-day SMA and settled around $265. Let’s take a closer look with technical analysis.
Litecoin Price Still Shows Negative Sentiment
Following the four straight bearish days, LTC has had a bullish session and is currently priced around $265. Due to the recent dip, the Litecoin price has flashed two sell signals:
Image: LTC/USD daily
On the upside, the resistance barrier lies at $270, wherein over 130,000 addresses had purchased 3 million LTC tokens. On the downside, the most formidable support lies at $250, wherein over 50,000 addresses had purchased 1 million LTC.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price bulls still need to break past the $290 resistance barrier and touch the $300-line.