Litecoin Price Prediction: LTC Sentiment Still Remains Negative

Daily Litecoin LTC Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price must overcome 20-day SMA to reverse parabolic SAR.
  • The MACD indicates increasing bullish market momentum.
  • Litecoin price suffered a $60 drop between June 15 and June 22, as LTC crashed from $180 to $120 under immense selling pressure. During this drop, the bears managed to flip the parabolic SAR and the 20-day SMA from bullish to bearish.

    Litecoin Price Drops After Touching 20-day SMA

    The Litecoin price jumped from $120 to $145 between Jue 23 to June 29. However, LTC buyers have failed to cross the 20-day SMA and dropped to $142.50 as a result. Despite this temporary drop, the MACD still shows increasing bullish market momentum.

    Image: LTC/USD daily

    LTC/USD daily chart 070121

    Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the 20-day SMA ($145). Previously, at this level, 81,000 addresses had purchased over 1.88 million LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 070121

    Litecoin Price On-Chain Analysis – Glassnode

    LTC/USD glassnode chart 070121

    "$LTC Realized Cap just reached a 1-month low of $9,784,922,108.54."

    Litecoin Price Is Expected To Reach These Levels

    The Litecoin price will need to push past the 20-day SMA to flip the parabolic SAR from negative to positive. Following that, Litecoin price will face resistance at the $160 barrier.

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