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.

Image: IntoTheBlock

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.