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Litecoin Technical Analysis: LTC Buyers Stopped In Their Paths

2 Min Read
Last Updated March 29th 2021

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.

LTC/USD daily chart 032921

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.

LTC/USD volume chart 032921

Image: IntoTheBlock

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.

LTC/USD 4-hour chart 032921

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.

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