Litecoin Technical Analysis: LTC Crashes After Touching $300, Down By $40

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Between April 13 and April 16, the Litecoin price jumped from $245 to $310.
  • The parabolic SAR has flipped from bullish to bearish.
  • Between April 13 and April 16, the Litecoin price jumped from $245 to $310, going up by more than $50. During this upward surge, LTC trended in parallel channel formation and flipped the 20-day and 50-day SMAs from resistance to support.

    $300 Line Prevents Litecoin Price Surge

    Now, when you look at the daily Litecoin price chart, we see that over the last two days, LTC has dropped from $310 to $260, losing $50 in the process. However, despite this drop in price, LTC is still trapped inside the upward channel formation. The MACD shows that market momentum is still positive. 

    Image: LTC/USD daily

    When we look at the IOMAP, the strongest support wall is at the $250 psychological level, It looks like 60,000 addresses had purchased 1 million LTC tokens at this line.

    Image: IntoTheBlock

    Litecoin Price Is Expected To Reach These Levels

    Despite the drop, the Litecoin price is still trending in an upward parallel channel, so a jump back to $285 may be on the cards.

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