Litecoin Price Prediction: LTC Rallies As Bulls Fight Back
Daily Litecoin LTC Technical Analysis
- Litecoin price flashes buy signals in the TD sequential detector.
- 200-bar SMA pushes down LTC in the 4-hour chart.
Litecoin price reached a high of $226 on March 14. Since then, LTC dropped by $45, going to $182, as it tumbles towards the $180 support line. However, today, the buyers rallied back and pushed the price up to $195.
Litecoin Price Flashes Buy Signal
Looking at the Litecoin price daily chart, we can see that LTC bounced up from the 2-month upward trending line and flashed the buy signal in the TD sequential detector. Since then, LTC crossed above the 50-day SMA and it’s aiming to flip the 20-day SMA from resistance to support.
Image: LTC/USD daily
However, the 20-day SMA is particularly strong since previously 162,000 addresses had purchased 3.5 million LTC tokens at the 20-day SMA ($196). On the downside, the 2-month upward trending line is extremely robust.
In the 4-hour chart, the MACD shows increasing bullish momentum jumping up from $185 to $195, stringing together four straight bullish days. In the proces, LTC managed to flip the parabolic SAR and 20-bar SMA from negative to positive. The 200-bar SMA provides immediate resistance to LTC.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
If the Litecoin price conquers the 20-day SMA, it will trend above the $200-level.