Litecoin Technical Analysis: LTC Fails At The $175 Resistance Barrier

Last Updated July 23rd 2021
2 Min Read

Daily Litecoin LTC Price Analysis
  • Litecoin price is currently flirting around the $170 line.
  • LTC has a healthy support at $145, which sees a confluence of 20-day and 50-day SMA.

Since January 28, the Litecoin price has jumped from $120 to $170, gaining around $50 in valuation. As things stand, the digital silver still has more space to grow. Let’s take a closer look with technical analysis.

 

Litecoin Price Faces Rejection At $175

During the jump since January 28, the Litecoin price has managed to flip the 20-day and 50-day SMAs from resistance to support. The relative strength index (RSI) has still not entered the overbought zone, which gives LTC more space to grow.

ltc/usd daily chart 021021

Image: LTC/USD daily

As per IntoTheBlock, there is a moderate resistance barrier at $175, which the Litecoin price has to overcome. Previously,17,250 addresses had purchased 572,000 LTC tokens at this level. If LTC overcomes this zone, it should easily reach $200.

ltc/usd volume chart 021021

Image: IntoTheBlock

The 4-hour Litecoin price chart shows two very positive signs – the Parabolic SAR has reversed from bearish to bullish, and the MACD shows sustained bullish momentum.

ltc/usd 4-hour chart 021021

Image: LTC/USD 4-hour

 

Litecoin Price Is Expected To Reach These Levels

Overall it seems like the Litecoin price will likely jump past the $175 resistance barrier since the underlying fundamentals are solid.

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