Litecoin Price Prediction: LTC Stuck Under 20-day and 50-day SMAs
Daily Litecoin LTC Technical Analysis
- Litecoin price bounced up from the $170 support level.
- The Bollinger Band shows steady stability.
The Litecoin price has dropped from $225 on March 14 to $170 on March 25, losing nearly $55 during this 10-day period. Since then, LTC has bounced up to $190 and met resistance at the 50-day SMA.
Litecoin Price Stuck Under Heavy Levels
The $190 resistance barrier sees a confluence of both the 20-day and 50-day SMAs. This level will prove very hard to flip. The Bollinger band shows us that the price volatility has remained the same for the second half of March.
Image: LTC/USD daily
When you see the IOMAP, the $200 zone, which coincides with the 20-day and 50-day SMAs is particularly strong. Previously, more than 100,000 addresses had purchased neatly 2 million LTC tokens at this zone.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price will struggle to flip the 20-day and 50-day SMAs from resistance to support.