0

Litecoin Technical Analysis: LTC Hugs Along The Underside Of The 20-day SMA

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price is currently sandwiched between critical levels.
    • The MACD shows sustained bearish market momentum.

    On April 26, the Litecoin price bounced up from the 50-day SMA and jumped up to $258 over the next day. During this uptrend, LTC managed to flip 20-day SMA from resistance to support. Since then, LTC met hard resistance at the 20-day SMA and has pretty much flattened itself around $250.

     

    Litecoin Price Drops Back Below 20-day SMA

    This Thursday, the Litecoin price fell from the 20-day SMA to the $250 psychological level. The  MACD shows decreasing bearish momentum and the parabolic SAR tells us that current market sentiment is negative.

    Image: LTC/USD daily

    ltc/usd daily chart 043021

    The next viable level of resistance for Litecoin price is at the 20-day SMA ($260). Previously, at this level, >63,000 addresses had purchased a little over 1.40 million LTC tokens.

    Image: IntoTheBlock

    ltc/usd volume chart 043021

    Litecoin Price Is Expected To Reach These Levels

    Litecoin price is on course to dropping towards the $245 support wall. On the upside, the buyers will need to break above the 20-day SMA ($260) to continue upward surge. 

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