- Litecoin price is currently stuck below the 20-day SMA.
- LTC faces a crucial support wall at the $160
Since May 25, the Litecoin price has been trending horizontally between $200 and $165. Between June 4 and June 8, LTC had dropped from $193 to $166, flipping the 200-day SMA from support to resistance. As you can see, the $160 support wall has repeatedly prevented LTC from going down.
The Buyers Attempt To Push Up Litecoin Price
Since the June 4-June 8 drop, the Litecoin price has been trending horizontally between the 20-day SMA and the $160 support line. The MACD shows sustained bullish market momentum, so it doesn’t seem like this support wall is going to break any time soon. The relative strength index is hovering close to the oversold mark.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price faces resistance at the 20-day SMA ($175). Previously, at this level, 87,000 addresses had purchased almost 3.57 million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price faces two immediate resistance barriers at the 20-day and 200-day SMAs. Overcoming these two lines will take LTC to $200.