Litecoin Price Analysis: Litecoin Recovers, Pushes To $128 

Daily Litecoin LTC Price Forecast

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Last Updated January 12th 2022
2 Min Read
  • The Litecoin price is currently up by nearly 2% during the ongoing session. 
  • LTC has been quite bearish lately and had dropped by nearly 4% on Friday. 

The Litecoin price pushed up to $128, as buyers look to push LTC to $130. LTC has been quite bearish and had dropped by 3.59% on Friday, falling to $131.15. The weekend saw LTC continue to drop, falling by 1.20% on Saturday and dropping to $129.57. On Sunday, the price pushed back up, rising to $130.86, but fell back in the red on Monday, dropping by 3.25% to $126.61, before recovering during the current session. 

Litecoin Price Chart Indicates LTC Could Push To $130 

The Litecoin price started the previous week on a bearish note, dropping by 1.76% on Monday and settling at $148.53. LTC continued to drop on Tuesday, as the price dropped by 1.42% to $146.43. Wednesday saw LTC post a significant drop, as the price fell by nearly 8%, dropping to $135.26. However, despite the overall bearish sentiment, LTC was able to register a marginal increase on Thursday, rising by 0.57%.

Image: LTC/USD daily

LTC/USD daily chart 011222

After registering a marginal increase on Thursday, the Litecoin price fell back in the red on Friday, dropping by 3.59% on Friday and settling at $131.15. LTC remained bearish on Saturday, starting the weekend by dropping by 1.20% and settling at $129.57. However, LTC pushed back up on Sunday, rising by 1% and ending the weekend at $130.86. Monday saw ADA back in the red, falling by 3.25% to $126.61, before recovering during the current session.

We can see that the Parabolic SAR is currently bearish, but if the price continues to push up, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $147.42. At this price level, over 200,000 addresses have sold more than 7.7 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 011222

Looking at the 4-hour Litecoin price chart, we can see that LTC had pushed up to $137.25 on the 6th. The price fell back from this level, dropping to $130.16 and then pushing up to $134.37 on the 8th. With the 20-bar SMA acting as resistance at this level, LTC dropped to $127.06 before pushing up to $130.50. LTC continued to move higher from this level, moving to $132.35, but could not move past the 20-bar SMA and dropped to $124.50 on the 10th. From this level, LTC pushed up to its current level of $129.

We can see that the MACD is currently bullish, indicating that the price could push higher.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 011222

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has registered a fairly significant increase during the current session. If the current sentiment persists, we could see LTC push to $130.