Litecoin Technical Analysis: LTC Flashes Multiple Buy Signals

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price is stuck between 20-day and 200-day SMAs.
  • LTC has had four bullish candlesticks out of the last five.
  • Over the previous five days, the Litecoin price has had four bullish sessions, during which it climbed from $164 to $191 as it looks to enter the $200 psychological level. Previously, LTC had crashed by 65% as it dropped from $388 to $140 between May 10 and May 23. Let’s take a closer look with technical analysis.

    Litecoin Price Flashes Two Buy Signals.

    Over the last four days, the Litecoin price has managed to flip the 200-day SMA from resistance to support and is currently stuck below the 20-day SMA. In the daily chart, LTC has flipped the parabolic SAR from negative to positive and the MACD from red to green. These are both strong buy signals.

    Image: LTC/USD daily

    ltc/usd daily chart 060421

    Looking at Into The Block’s IOMAP, the Litecoin price faces resistance at the $200 psychological barrier, which coincided with the 20-day SMA. As per the IOMAP, ~70,000 addresses had purchased almost 2 million LTC tokens at this level.

    Image: IntoTheBlock

    ltc/usd volume chart 060421

    Litecoin Price Is Expected To Reach These Levels

    Looking at the Litecoin price daily chart, the buyers need to break above the 20-day SMA and the $200 psychological level. If they manage to do that, LTC will reach the $220 resistance barrier.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.