- Litecoin price downside is protected by the 50-day SMA.
- The MACD shows increasing bearish market momentum.
- Flipped the 20-day SMA from support to resistance.
- The RSI still has room to drop before it enters the oversold zone.
- The MACD shows increasing bearish market momentum,
Between May 10 and May 17, the Litecoin price has crashed from $388 to $280, losing over $100 in its overall valuation and breaking below the 20-day SMA. Priori to this LTC had jumped from $225 to $388 between April 26 and May 9 - gaining almost $160 in its overall valuation. Let’s see what’s going on with technical analysis.
Litecoin Price Negative Momentum On The Rise
Litecoin has flashed three different sell signals in the daily price chart:
Image: LTC/USD daily
Looking at the IOMAP, the Litecoin price has a strong resistance at the 20-day SMA ($315). Previously, at this level, almost 92,0000 addresses had purchased ~1.70 million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
If the buyers don’t step up big time, the Litecoin price could plunge to the 50-day SMA ($270).