Litecoin Price Prediction: LTC Sentiment Still Remains Negative
Daily Litecoin LTC Technical Analysis
- 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
Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the 20-day SMA ($145). Previously, at this level, 81,000 addresses had purchased over 1.88 million LTC tokens.
Litecoin Price On-Chain Analysis – Glassnode
"$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.