Litecoin Technical Analysis: LTC Jumps Up After Flashing Buy Signal

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • 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

    Litecoin LTC Daily Chart

    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.

    Image: IntoTheBlock

    Litecoin LTC Volume Chart

    Litecoin Price Is Expected To Reach These Levels

    Litecoin price will likely jump to the 20-day SMA ($255) by riding this bullish momentum.