- Litecoin price sentiment is presently negative.
- The LTC RSI is trending along the edge of the oversold zone.
Litecoin price crashed by $60, going down from $180 to $120 between June 15 to June 22, and flipped the 20-day SMA from support to resistance. During this drop, LTC also managed to reverse the parabolic SAR from positive to negative. Let’s see what happened after that.
Litecoin Price Stuck Between Strong Resistance and Support Levels
On June 23 and June 24, the Litecoin price jumped from $120 to $135. Since then, LTC dropped to $130 and has been hovering horizontally between $132 resistance and $125 support wall. The relative strength index (RSI) is also trending horizontally as the buyers and sellers cancel each other out. Looking at the daily chart, if LTC breaks above the 20-day SMA, it will reverse the parabolic SAR from negative to positive.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at $130. Previously, at this level, 90,500 addresses had purchased over a million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
The buyers need to push the $130 resistance barrier and reach the $140 level. A rejection at this level will take the Litecoin price to the $125 support barrier.