Litecoin price has been under bullish control for five straight days.
MACD shows that market momentum is about to flip from bearish to bullish.
The bulls have been in constant control of the Litecoin price. During this 5-day surge, LTC rose from $170 to $196, gaining almost $26 in its overall valuation. Let’s take a closer look with tech technical analysis.
Litecoin Price Stopped On Its Track By The Two SMAs
Following the $25 surge in Litecoin price, the buyers have found heavy resistance near the $200 psychological level. Looking at the daily chart, we can see that the confluence of the 20-day and 50-day SMAs have stopped this upward surge.
As per the IOMAP, around 106,000 addresses have entered the market here by buying 2 million LTC tokens. If the buyers conquer this zone, Litecoin price will rise till $225,
Litecoin Price Is Expected To Reach These Levels
The Litecoin price will attempt to cross the $200 psychological zone.
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