Litecoin Technical Analysis: LTC Buyers Aim For $270 Resistance
Daily Litecoin LTC Price Analysis
- Litecoin price had a bullish session after four straight bearish days.
- The MACD has reversed from bullish to bearish.
Between April 17 to April 20, the Litecoin price dropped from $310 to $260, losing almost $50 in overall valuation. Following this bearish drop, the buyers managed to take back control and push LTC up to $265.
Litecoin Price Momentum Turns Bearish
Despite this upward surge in Litecoin price, the market momentum is negative. In fact, the MACD shows that market momentum has recently reversed from positive to negative. Plus, the parabolic SAR has flipped from positive to negative. This shows that the overall Litecoin price sentiment is negative.
Image: LTC/USD daily
Looking at the IOMAP, Litecoin has a strong resistance barrier at $270. Previously, at this level, 85,000 addresses had purchased nearly 2 million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price may jump up till the $270 resistance barrier, but it will struggle to crossover this line.