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Litecoin Price Prediction: LTC Keeps Hovering Horizontally Between $120 and 20-day SMA

Daily Litecoin LTC Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • MACD indicates sustained bullish market momentum.
  • The Litecoin price volatility in the daily chart has gone down.
  • The Litecoin price lost $60 in its overall valuation between June 15 and June 21 as it dropped from $180 to $120. In this time period, LTC flipped the 20-day SMA from support to resistance and reverse the MACD from bullish to bearish.

    Litecoin Price Hovering Horizontally

    Since June 22, the Litecoin price has been hovering between $120 and the 20-day SMA. During this time period, LTC has met continuous resistance at the 20-day SMA. The Bollinger band has been continually narrowing to indicate decreasing volatility. The MACD has flipped back to positive and now shows sustained bullish momentum.

    Image: LTC/USD daily

    LTC/USD daily chart 070921

    Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the 20-day SMA ($135). As per the IOMAP, nearly 208,000 addresses had purchased almost 4 million LTC tokens here.

    Image: IntoTheBlock

    LTC/USD volume chart 070921

    Litecoin Price Is Expected To Reach These Levels

    It doesn’t look like the Litecoin price is going to break above the 20-day SMA any time soon. As such, the buyers need to focus on making sure that LTC doesn’t break below the $120 support.

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