- The Litecoin price continued to push up during the ongoing session, currently at $210.
- LTC has been quite bullish since the beginning of the week after it had dropped to $195 on Saturday.
The Litecoin price had dropped significantly on Friday, as sellers pushed the price below the 50-day SMA to $195.94. LTC remained in the red on Saturday before rising on Sunday and settling at $199.65. LTC continued to push up on Monday, moving beyond $200 and settling at $205.73 before rising to $211, up by over 2% during the current session.
Litecoin Price Chart Indicates LTC Could Push Above Resistance At $212
The Litecoin price had started the previous weekend on a very positive note, as it pushed up by over 4% on Saturday. However, the price fell back on Sunday and dropped by 2.46%, settling at $221.39. The bearish sentiment persisted on Monday as LTC fell by over 5% and settled at $209.28. Tuesday saw the price recover, with LTC moving up to $216.36, but it fell back on Wednesday, dropping by 1.89% and settling at $212.26. Despite the drop, LTC pushed up significantly on Thursday, rising to $222.90 after registering an increase of over 5%.
Image: LTC/USD daily
After rising by over 5% on Thursday, the Litecoin price dropped on Friday, falling by over 12%, slipping below $200, and the 50-day SMA to settle at $195.94. LTC remained bearish on Saturday, as the price dropped marginally before rising by 2.21% on Sunday to end the weekend at $199.65. The week started in a similar vein for LTC, as it rose to $205.73 after registering an increase of over 3%. The current session sees LTC currently at $206, with buyers and sellers struggling for control.
The Parabolic SAR is currently bearish, indicating that the price could drop. However, 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 $215.56. At this price level, over 86,000 addresses have sold more than 6.5 million LTC. LTC also has strong support at around $198.04. At this price level, over 160,000 addresses have bought more than 5 million LTC.
The 4-hour Litecoin price chart shows us that LTC had pushed up to $226.83 on the 25th, pushing above all three SMAs. However, the price turned bearish from this level, as it dropped to $191.51 on the 26th, slipping below all three SMAs. LTC pushed up marginally from this level, rising to $198.26, and stayed at this level until the 28th, when it dropped further to $189.36. The price recovered on the 29th, as it pushed back above the 20-bar SMA and settled at $209.11 before rising above the 50-bar SMA on the 30th and moving to its current level of $208.
We can see that the MACD is currently bullish, indicating that the price could push higher.
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 pushed up significantly during the current week. If the current sentiment persists, we could see LTC move above the 50-day SMA and move to $215.