Litecoin Technical Analysis: LTC Stuck Between Key Technicals

Last Updated July 23rd 2021
2 Min Read

Daily Litecoin LTC Price Analysis
  • Litecoin price sandwiched between 20-day SMA and $155 resistance.
  • LTC has healthy support levels on the downside.

Between January 10 and January 12, the Litecoin price has dropped from $180 to $135, losing nearly $45 in valuation. Over the last two days, the buyers have managed to push the Litecoin price back above the 20-day SMA, which has flipped from resistance to support.

 

Litecoin Price Has Found Resistance at $155

As things stand right now, the Litecoin price is sandwiched between the 20-day SMA and the $155 resistance barrier. The relative strength index (RSI) is trending horizontally around 56. So, if the buyers take back control, they have enough space to push the Litecoin price above $155.

ltc/usd daily chart 011521

Image: LTC/USD daily chart

As the IOMAP shows, there is a moderate to strong resistance zone at $155. Previously at this level, 35,000 addresses had purchased 1.33 million LTC tokens. If the buyers somehow overcome this zone, they should push the $175 psychological zone price.

ltc/usd volume chart 011521

Image: IntoTheBlock

Even the 4-hour timeframe is sandwiched between crucial levels, with the 50-bar SMA on the upside and the 20-bar SMA on the downside. The MACD shows sustained bullish momentum, so we can expect the Litecoin price to break above the resistance level.

ltc/usd 4-hour chart 011521

Image: LTC/USD 4-hour chart

 

Litecoin Price is Expected To Hit What Level?

If LTC breaks above the $155 resistance barrier, it could potentially reach the $175 wall. If the Litecoin price goes through a bearish correction, the IOMAP tells us that there are several healthy support barriers on the downside which should absorb selling pressure.