Litecoin Technical Analysis: LTC Jumps Up After Flashing Buy Signal
Daily Litecoin LTC Price Analysis
- Litecoin price crashed from $310 to $225 between April 17 and April 25.
- LTC bounced up from the 50-day SMA.
Between April 17 and April 25, the Litecoin price dropped from $310 to $225, losing almost $85 in its overall valuation. During this downward plunge, LTC managed to break below the 20-day SMA. However, the 50-day SMA has remained firm and provided healthy support.
Litecoin Price Rose By Almost 10% Today
The Litecoin price bounced up from the 50-day SMA and flashed the buy signal in the form of a red-nine candlestick in the TD sequential detector. LTC buyers responded handsomely and shot the price up from $225 to $245, gaining almost $20 in the process.
Image: LTC/USD daily
The next viable level of resistance for Litecoin price is at the 20-day SMA ($255). Previously, at this level, >58,000 addresses had purchased a little over 2.15 million LTC tokens.
Litecoin Price Is Expected To Reach These Levels
Litecoin price will likely jump to the 20-day SMA ($255) by riding this bullish momentum.