Litecoin Technical Analysis: LTC Crosses The $300 Psychological Level
Daily Litecoin LTC Price Analysis
- Litecoin price has a strong resistance barrier at the $315 level.
- The RSI is on the verge of entering the overbought zone.
Between April 26 and May 4, the Litecoin price jumped from $225 to $312, gaining more than $85 in its overall valuation. During this upward surge, LTC managed to flip the 20-day SMA from resistance to support.
Litecoin Price On The Verge Of Getting Overbought
The Litecoin price reached an intraday high of $325 before retreating to $312, and losing $13. The parabolic SAR has reversed from negative to positive. The relative strength index (RSI) is on the verge of entering the overbought zone, so further growth could be difficult.
Image: LTC/USD daily
Looking at the IOMAP, the $315 resistance barrier is pretty solid. Around 35,000 addresses had purchased a little more than 215,000 LTC tokens here.
Litecoin Price Is Expected To Reach These Levels
Having crossed the $305 level, the Litecoin price will now need to cross the $315 line to carry this upward momentum.