Litecoin Price Prediction: The MACD Shows Increasing Bearish Momentum

Daily Litecoin LTC Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • The Litecoin price will drop for three more sessions.
  • LTC has strong support at around $120.
  • Between July 8 and July 14, the Litecoin price was hovering horizontally between $130 and $135. Since then, the bears took control of LTC dropped it to $120. Since June 16, LTC has met continuous resistance at the 20-day SMA.

    Litecoin Price Could Drop For Three More Sessions

    Over the last six days, the Litecoin price dropped after facing resistance at the 20-day SMA. The MACD shows that the market momentum is currently bearish. As per the TD sequential detector, LTC could have three more bearish sessions.

    Image: LTC/USD daily

    LTC/USD daily chart 071921

    Looking at Into The Block’s IOMAP, the Litecoin price must not break below the crucial support at $120. As per the IOMAP, nearly 110,000 addresses had purchased almost 1.85 million LTC tokens here.

    Image: IntoTheBlock

    LTC/USD volume chart 071921

    Litecoin Price Is Expected To Reach These Levels

    If the $120 support line stays strong, the Litecoin price will bounce up and touch the $130 resistance barrier.

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