Litecoin Technical Analysis: LTC Rises By >$50 Over The Last Three Days

Daily Litecoin LTC Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • 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

    ltc/usd daily chart 052721

    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.

    Image: IntoTheBlock

    ltc/usd volume chart 052721

    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.

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