Litecoin Technical Analysis: LTC Is Rising Towards The $245 Resistance

1 Min Read
Last Updated July 23rd 2021

Daily Litecoin LTC Price Analysis
  • Litecoin price is still overvalued, as per RSI.
  • 4-hour chart flashes multiple buy signals

The Litecoin price has jumped from $122 to $234 since January 28, nearly doubling itself in valuation. As of now, the buyers are pushing LTC towards the $250 psychological level. Let’s take a closer look with technical analysis.

 

Litecoin Price Flashes All The Right Signals...Except One

As you can see, the Litecoin price had an extremely bullish Wednesday, wherein it jumped from $209 to $236. This push has presently made LTC significantly overvalued, as evidenced by the relative strength index (RSI).

ltc/usd daily chart 021821

Image: LTC/USD daily

On the upside, there is a moderate resistance barrier at $250, wherein 28,700 addresses had previously purchased 181,000 LTC tokens. Overcoming this level shouldn’t be an issue for Litecoin price.

ltc/usd volume chart 021821

Image: IntoTheBlock

In the 4-hour Litecoin price chart, there are two bullish signals which bodes well for LTC:

  • The MACD showing increasing bullish market momentum.
  • The 20-bar SMA getting flipped from resistance to support.

ltc/usd 4-hour chart 021821

Image: LTC/USD 4-hour

 

Litecoin Price Is Expected To Reach These Levels

As things stand, the Litecoin price is likely to keep climbing towards the $250 psychological mark.

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