Litecoin Price Prediction: LTC Manages To Break Past $140 Psychological Level

Daily Litecoin LTC Technical Analysis

Last Updated July 30th 2021
1 Min Read
  • Litecoin price flipped the 50-day SMA from resistance to support.
  • LTC is on the verge of flashing sell signal in TD detector.

The Litecoin price managed a bearish day following eight straight bullish days, despite finally touching the $140 psychological levels. Before this crash, LTC dropped $134 to $107 between July 12 and July 20. Due to this crash, the market momentum flipped from positive to negative.

Litecoin Price Find Support At 50-day SMA

The Litecoin price had eight straight bullish sessions between July 21 and July 28, wherein it jumped from $107 to $140.50, flipping the 50-day SMA from resistance to support. This was a crucial move since the 50-day SMA has stayed strong to prevent a further downtrend. However, the TD sequential detector is on the verge of flashing a sell signal in the form of a green-nine candlestick in the TD sequential detector. 

Image: LTC/USD daily

LTC/USD daily chart 073021

Looking at Into The Block’s IOMAP, the Litecoin price faces strong resistance at $150. As per the IOMAP, nearly 64,000 addresses had purchased almost 690,000 LTC tokens here.

Image: IntoTheBlock

LTC/USD volume chart 073021

Litecoin Price Is Expected To Reach These Levels

Now that the Litecoin price has broken above the 50-day SMA, it should reach the $150 psychological level. A further boost will take LTC to the 200-day SMA ($190).

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