Litecoin Technical Analysis: LTC Tumbles Towards $130 Support
Daily Litecoin LTC Price Analysis
- Litecoin price has dropped below the $150 psychological level.
- The TD detector is on the verge of flashing a buy signal.
Between June 15 and June 20, the Litecoin price dropped from $178.50 to $160 and flipped the 20-day SMA from support to resistance. Prior to that, LTC fell from $192.50 to $160 between June 4 and June 8. Let’s take a closer look with technical analysis.
Litecoin Price Drops Towards The $130 Support
This Monday, the Litecoin price crushed from $153 to $135, breaking below the $150 psychological level. The relative strength index (RSI) shows us that LTC could drop some more before it gets oversold. The TD sequential detector shows that LTC could fall for four more sessions before charting a red-nine candlestick.
Image: LTC/USD daily
Looking at Into The Block’s IOMAP, the Litecoin price is dropping towards the $130 support wall. Previously, at this level, 28,000 addresses had purchased almost 490,000 LTC tokens.
Litecoin Price Is Expected To Reach These Levels
The Litecoin price will likely drop below the $130 support wall and go towards the $125 line.