Litecoin Technical Analysis: LTC Hovers Horizontally Following Bullish Climb
Daily Litecoin LTC Price Analysis
- Litecoin price volatility is on the rise.
- The MACD shows sustained bullish momentum.
The Litecoin price bounced up from the 50-day SMA on April 26 and went from $225 to May 5 on $355 – breaking past the $350 psychological level. Following this, the digital silver is trending along horizontally at the $350 line.
Litecoin Price Drops Back Into The Bollinger Band
Despite the horizontal trend, the Litecoin price volatility is on the rise, which shows that drastic LTC price drops or rises are in the cards. The MACD shows sustained bullish market momentum.
Image: LTC/USD daily
Looking at the IOMAP, the $330 support wall is pretty solid. Around 39,000 addresses had purchased a little more than 2 million LTC tokens here. If the Litecoin price falls, this level will eat up a lot of selling pressure.
Litecoin Price Is Expected To Reach These Levels
As of now, the Litecoin price is dropping towards the $330 support wall. A further break will take LTC to the $300 psychological level.