- The Litecoin price slumped to $100 during the ongoing session as sellers continue to dominate the market.
- LTC has been extremely bearish in recent sessions and had registered a drop of nearly 12% on Friday.
The Litecoin price is currently down by nearly 10%, as sellers drove the price down significantly during the ongoing session. LTC had registered a significant drop on Friday, as the price fell by nearly 12%, dropping to $114.70. The price remained in the red over the weekend, as it dropped over 5% on Saturday and dropped to $108.44. Despite the bearish sentiment, LTC was able to register an increase on Sunday, rising by 3.63% and moving to $112.37, before dropping back during the current session.
Litecoin Price Chart Indicates LTC Could Slip Below $100
The Litecoin price started the previous weekend on a fairly positive note, registering an increase of 0.94% on Friday. The weekend saw LTC surge by over 7% on Friday, moving past the 20-day SMA, before dropping back on Sunday, falling by 0.85%. LTC started Monday on a positive note, rising by 3.23% and moving to $151.25, before dropping back on Tuesday, falling by 6.42% to $141.53, where the 20-day SMA was acting as support. However, on Wednesday, LTC slipped below the 20-bar SMA, dropping to $136.24.
Image: LTC/USD daily
The Litecoin price remained bearish on Thursday, as it dropped by nearly 5% to $129.86. Friday saw LTC fall by nearly 12%, dropping to $114.70. The weekend started with the bearish sentiment persisting, as LTC dropped by 5.46% on Saturday, falling to $108.44. However, the price pushed back up on Sunday, rising to $112.37, but fell back into the red during the ongoing session and is currently down by nearly 11%.
We can see that the MACD and Parabolic SAR are both currently bearish, indicating that the price could drop lower.
Looking at IntoTheBlock’s IOMAP for the Cardano price, we see that ADA faces strong resistance at around $106.93. At this price level, over 56,000 addresses have sold more than 4.8 million LTC.
The 4-hour Litecoin price chart indicates that LTC had pushed up to $151.25 on the 18th. However, it could not stay at this level and fell below the 20 and 200-bar SMAs, dropping to $140.72. LTC continued to drop from this level, slipping below the 50-bar SMA and dropping to $133.82. The price pushed back up from this level and rose to $142.07. With the 20-bar SMA acting as resistance, LTC dropped back significantly, dropping to $122.34 on the 21st and then to $105.89 on the 22nd. LTC was able to register a marginal recovery from this level, rising to $112.37 before dropping to its current level of $101.
We can see that the MACD is currently bullish, indicating that we could see the price push up from this level.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Looking at the Litecoin price chart, we can see that LTC has dropped significantly during the ongoing session, although it has made a marginal recovery and pushed back to $102. If the current sentiment persists, we could see LTC push to $105.