Litecoin Price Prediction: LTC Manages To Break Past $140 Psychological Level
Daily Litecoin LTC Technical Analysis
- 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
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.
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).