- The Litecoin price had registered a significant drop of over 6% on Tuesday.
- The current session sees LTC back in the green, as buyers look to push LTC back above $150
The Litecoin price has recovered during the current session, as buyers look to push the price back above $150. LTC was quite bearish over the weekend, dropping by over 2% and settling at $157.92. The price continued to drop on Sunday, falling by 1.34% and settling at $155.80, before registering a marginal increase on Monday. However, the price fell back in the red on Tuesday, dropping by 6.61%, slipping below the 20-day SMA and settling at $145.69.
Litecoin Price Chart Indicates LTC Looking To Push Past $150
The Liteocin price started the previous week by registering a marginal drop on Monday. On Tuesday, LTC was back in the green, rising by 1.50% and settling at $155.01, before registering another marginal increase of 0.28% on Wednesday. The price surged on Thursday, rising by over 5%, moving past the 20-day SMA and settling at $163.65. However, the price fell back in the red on Friday, dropping by 1.47% and settling at $161.25.
Image: LTC/USD daily
After dropping to $161.25 on Friday, the Litecoin price continued to drop over the weekend, falling by over 2% on Saturday to settle at $157.92. The price continued to drop on Sunday, falling to $155.80, ending the weekend on a bearish note. Monday saw LTC register a marginal increase before falling back in the red on Tuesday, dropping by 6.61%, slipping below the 20-day SMA, and settling at $145.69. The current session has seen LTC post a marginal recovery, and if the price continues to push higher, we could see the Parabolic SAR flip to bullish.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $158.75. At this price level, over 200,000 addresses have sold more than 5 million LTC.
The 4-hour Litecoin price chart shows us that LTC had pushed up to $165.68 on the 24th. The price fell back from this level, falling to $161.25. LTC made a marginal recovery from this level but fell sharply, slipping below the 20 and 50-bar SMAs on the 26th and settling at $154.01. With the 50-bar SMA acting as resistance, LTC could only rise to $155 and was able to push past the 50-bar SMA only on the 27th, when the price rose to $159.23. However, after reaching this level, LTC turned bearish and fell back, slipping below the 20 and 50-bar SMAs and dropping to $145.70 on the 29th. From this level, LTC recovered and moved to its current level of $148.
We can see that the MACD is currently bullish, but if the price continues to increase, we could see it flip to bullish.
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 recovered during the current session, rising to $148. If buyers are able to stay in control of the session, we could see LTC push to $150.