Litecoin Technical Analysis: LTC Flips Crucial Level From Support To Resistance

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price currently has a healthy support wall at $165.
  • LTC volatility has been going down as per the Bollinger Band.
  • The Litecoin price met major resistance at the 20-day SMA and dropped from $192.50 to $160 between June 4 and June 8. Prior to this crash, LTC has been trending horizontally between $200 and $165 between May 25 and June 4.

    Litecoin Price Filps 20-day SMA

    On June 13 and 14, the Litecoin price had jumped from $165 to $182.50, flipping the 20-day SMA from resistance to support. Following that, LTC has dropped to $169.65. Reversing the 20-day SMA from support to resistance. The Bollinger band has started narrowing, which indicates decreasing price volatility.

    Image: LTC/USD daily

    LTC/USD daily chart 061721

    Looking at Into The Block’s IOMAP, the Litecoin price has immediate resistance at the 20-day SMA ($175). Previously, at this level, 155,000 addresses had purchased almost 2.95 million LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 061721

    Litecoin Price Is Expected To Reach These Levels

    The Litecoin price is currently stuck between the 20-day SMA and the $165 support wall. LTC is going to keep trending horizontally around $170.

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