Litecoin Technical Analysis: LTC Must Overcome Key Resistance To Flip Parabolic SAR

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Litecoin price faces immediate resistance at 20-day SMA.
  • The MACD indicates increasing bullish market momentum.
  • The Litecoin price has crashed from $180 to $120 between June 15 to June 22 and flipped the parabolic SAR from positive to negative. Plus, LTC also managed to reverse the 20-day SMA from support to resistance.

    Litecoin Price Faces Key Resistance

    Since June 23, the Litecoin price has jumped from $120 to $143. The MACD shows increasing bullish momentum to reflect this growth. As things stand, LTC has met immediate resistance at the 20-day SMA.

    Image: LTC/USD daily

    LTC/USD daily chart 063021

    Looking at Into The Block’s IOMAP, the Litecoin price faces immediate resistance at the 20-day SMA ($145). Previously, at this level, 80,000 addresses had purchased over 1.85 million LTC tokens.

    Image: IntoTheBlock

    LTC/USD volume chart 063021

    Litecoin Price Is Expected To Reach These Levels

    The buyers need to push past the 20-day SMA to flip the parabolic SAR from negative to positive. Following that, Litecoin price will face resistance at the $160 barrier.