Litecoin Technical Analysis: LTC Marches For The 20-day SMA
Daily Litecoin LTC Price Analysis
- Litecoin price sits on top of two healthy support levels.
- The MACD in the 4-hour chart shows increasing bullish momentum.
Between March 1 and March 3, the Litecoin price rose from $165 to $185 gaining almost $20 in its overall valuation. Since then it has been trending horizontally for a bit before the buyers took control of the Litecoin price.
Litecoin Price Flips $180 Support From Resistance To Support
Over the last two days, the Litecoin price has managed to flip the $180 line from resistance to support. The relative strength index (RSI) is hovering in the neutral zone, which shows that either the buyers or sellers can still take control of LTC. The parabolic SAR shows that the market sentiment for LTC is presently negative.
Image: LTC/USD daily
The Litecoin price has two moderate resistance barriers on the upside at the 20-day SMA ($190) and $200. At the former, a little over 46,000 addresses had purchased a little over 660,000 LTC tokens.
The 4-hour Litecoin price chart shows two bullish signs:
- The MACD shows increasing bullish market momentum.
- The 20-day SMA has flipped from resistance to support.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Litecoin price is on its way to the 20-day SMA($190 ). If LTC doesn’t break past this zone, it will reach the $200-level.