Litecoin Technical Analysis: LTC Buyers Stopped In Their Paths
Daily Litecoin LTC Price Analysis
- The bulls found resurgence and bounced up from the $170 support line.
- Flipping the upward trending line is key for Litecoin price.
Between March 14 and March 25, the Litecoin price dropped from $225 to $170. During this drop, the digital silver fell below the 20-day SMA, 50-day SMA, and the upward trending line. Let’s take a closer look with technical analysis.
Litecoin Price Struggles To Break Above the 2-Month Trending Line
The Litecoin price bounced up from the $170 support and failed to break above the 2-month upward trending line. As things stand, LTC is currently consolidating between the upward trending line and the $180 support line.
Image: LTC/USD daily
If the bulls do managed to flip the trending like from resistance to support, the Litecoin price will find major resistance at the 50-day SMA ($190), wherein 106,000 addresses had previously purchased 2.68 million LTC tokens.
The 4-hour Litecoin price chart has encountered resistance at the 50-bar SMA. During the upward surge, LTC managed to flip the parabolic SAR from negative to positive. MACD shows that the price has the momentum required to flip the 50-bar SMA.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
If the Litecoin price conquers the upward trending line, it will rise up to the 20-day SMA.