Litecoin Price Prediction: LTC Stuck In A Narrow $5 Range
Daily Litecoin LTC Technical Analysis
- The Litecoin price volatility has been steadily decreasing, as per the Bollinger Band.
- LTC buyers and bears are canceling each other out.
For the last six days, the Litecoin price has been hovering in a narrow $5 range between $130 and $135. Prior to this, LTC had a major $60 crash, when it fell from $180 to $120 between June 15 and June 21.
Litecoin Price Keeps Hovering Horizontally Between $130 and $135
The Litecoin price has encountered continuous resistance at the 20-day SMA for the last seven days. The Bollinger band has been continually narrowing to indicate decreasing volatility. The parabolic SAR tells us that the current price sentiment is still positive.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price has immediate resistance at the 20-day SMA ($135). As per the IOMAP, nearly 277,000 addresses had purchased almost 3.5 million LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price needs to flip the 20-day SMA from resistance to support. Following that LTC should touch the upper Bollinger Band ($145).