Litecoin Technical Analysis: LTC Flips 200-day SMA From Resistance To Support

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price faces immediate resistance at $185.
  • LTC is on the verge of flipping parabolic SAR from negative to positive.
  • The Litecoin price is on the verge of overcoming the $185 resistance barrier. Prior to that, LTC had crashed by 65% as it dropped from $388 to $140 between May 10 and May 23 – and flipped the 20-day, 50-day , and 200-day SMAs from support to resistance. Following this crash, the buyers pushed up LTC to $185, reversing the 200-day SMA from resistance to support. However, the price soon slumped after encountering the $200 obstacle.

    Litecoin Price Overcomes The 200-day SMA

    This Saturday, the Litecoin price dropped from $178 to $162 and flipped back the 200-day SMA from support to resistance. However, the buyers then took back control over the next two days, and pushed LTC up from $162 to $183 – gaining back the 200-day SMA as a support wall. Looking at the daily price chart, LTC is on the verge of:

    1. Reversing the parabolic SAR from negative to positive.
    2. Flipping the MACD from bearish to bullish.

    Image: LTC/USD daily

    ltc/usd daily chart 060121

    Litecoin price has immediate resistance at $185. As per the IOMAP, 73,000 addresses had purchased almost 1.75 million LTC tokens at this level.

    Image: IntoTheBlock

    ltc/usd volume chart 060121

    Litecoin Price SOPR Drops Below 1

    Litecoin LTC Spent Output Profit Ratio

    Over the last week, the SOPR (Spent Output Profit Ratio) has dropped below 1. This tells us that more Litecoin holders are at a loss than profit.

    Litecoin Price Is Expected To Reach These Levels

    Now that the Litecoin price has overcome the 200-day SMA, it needs to overcome the $185 resistance to reach $200.