Litecoin Price Analysis: LTC Looks To Move Above $150 After Marginal Drop 

Daily Litecoin LTC Price Forecast

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Last Updated December 17th 2021
3 Min Read
  • The Litecoin price registered a drop of over 3% on Thursday, dropping to $148.88.
  • The current session has seen a marginal recovery, as LTC looks to move back above $150 

The Litecoin price has recovered during the ongoing session, registering a marginal increase, with LTC presently settling at $149. LTC had started the week on a highly bearish note, registering a drop of over 9% on Monday and settling at $144.61. On Tuesday, LTC made a strong recovery, rising by over 4% and then rising by over 2% on Wednesday to settle at $153.59. However, sellers managed to push the price down on Thursday, as LTC dropped below $150 and settled at $148.88. 

Litecoin Price Chart Indicates LTC Looking To Move Back To $150 

The Litecoin price started the previous week on a bullish note, rising by over 3% on Monday. LTC remained in the green on Tuesday, registering a marginal increase, before another increase of almost 2% on Wednesday took the price to $165.21. However, after reaching this level, LTC fell back on Thursday, falling by over 8% and settling at $151.46. Friday saw the price drop further, as sellers pushed the price down by 1.99% to $148.45.

Image: LTC/USD daily

LTC/USD daily chart 121721

After dropping below $150 on Friday, the Litecoin price recovered over the weekend, rising by 6.46% on Saturday and then pushing by 0.70% on Sunday to settle at $159.14. However, despite the bullish weekend, the price dropped on Monday, falling by over 9% and settling at $144.61. The price recovered on Tuesday, rising by over 4%, and then pushed up by over 2% on Wednesday, settling at $153.59. However, the price fell back on Thursday, dropping by over 3% and slipping back below $150.

The current session has seen a marginal increase, and if the price continues to push higher, we could see the MACD flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $152.03. At this price level, over 215,000 addresses have sold more than 5.3 million LTC. LTC also has strong support at around $147.81. At this price level, over 159,000 addresses have bought more than 5.2 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 121721

Looking at the 4-hour Litecoin price chart, we can see that LTC had pushed above the 50-bar SMA on the 12th when it rose to $160.83. However, the price could not stay at this level and dropped below the 50 and 20-bar SMAs, settling at $144.41 on the 14th. LTC pushed up from this level, rising to $151.56, but could not get past the 20-bar SMA and dropped to $143.19. However, the price made a strong recovery from this level, rising to $152.02 on the 15th and pushing above the 20-bar SMA. LTC then moved above the 50-bar SMA, rising to $156.33, before dropping back below the two SMAs and settling at its current level of $149.

We can see that the MACD and Parabolic SAR are bullish, indicating that we could further see the price rise.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 121721

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has pushed up marginally during the ongoing session. If the current sentiment persists, we could see LTC push to $150.