- Litecoin price flipped the 200-day SMA from resistance to support this Monday.
- LTC crashed by ~65% from May 10 to May 23.
Between May 10 and May 23, the Litecoin price crashed from $388 to $140 – losing almost 65% in its overall valuation. During this crash, LTC managed to flip the 20-day, 50-day , and 200-day SMAs from support to resistance. Following this crash, the buyers seem to have taken back control.
Litecoin Price Reverses 200-day SMA From Resistance To Support
Over the last three days, the Litecoin price has jumped from $140 to $194, gaining over $50 in its overall valuation. During this jump, LTC managed to flip the 200-day SMA from resistance to support. The buyers will need to overcome the $215 resistance barrier and reach $235 to flip the parabolic SAR from negative to positive.
Image: LTC/USD daily
To flip the parabolic SAR, the Litecoin price needs to overcome the $215 resistance barrier. As per the IOMAP, >12,300 addresses had purchased almost 4.7 million LTC tokens at this level.
Litecoin Price Is Expected To Reach These Levels
Given the current market momentum, the Litecoin price is likely going to jump and touch the $215 resistance barrier.