- The Litecoin price registered a marginal increase during the ongoing session after dropping to $136 on Wednesday.
- LTC has been quite bearish during the ongoing week and had dropped over 6% on Tuesday.
The Litecoin price is currently up almost 2% as buyers look to push the price back above $140. LTC had ended the weekend in the red but recovered on Monday, rising by over 3% and settling at $151.25. However, the price fell back on Tuesday, dropping over 6% and settling at $141.53. On Wednesday, the price continued to drop, slipping below the 20-day SMA and settling at $146.26 before recovering during the ongoing session.
Litecoin Price Chart Indicates LTC Could Push To $140
The Litecoin price dropped over 3% on Monday (10th), getting off to a fairly bearish start to the previous week. However, LTC recovered on Tuesday, rising by almost 4%, and then rising by 7.90% on Wednesday to move to $142.02. With the 20-day SMA coming into play as resistance at this level, the price fell back, dropping by almost 4% on Thursday, before recovering on Friday and settling at $138.01.
Image: LTC/USD daily
The weekend saw the Litecoin price continue to push higher, rising to $147.78 on Saturday and then dropping by 0.85% on Sunday to end the weekend at $146.52. The price recovered on Monday, rising by 3.23% and moving past the $150 level, settling at $151.25. However, with the 50-day SMA coming into play as resistance, the price fell back on Tuesday, dropping over 6% to $141.53. On Wednesday, LTC slipped below the 20-bar SMA, dropping to $136.24, before recovering during the ongoing session.
We can see that the MACD is currently bullish, indicating that we could see the price push higher.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $148.80. At this price level, over 279,000 addresses have sold more than 8 million LTC.
The 4-hour Litecoin price chart shows us that LTC had dropped below the 200-bar SMA on the 16th, dropping to $144.82. The price recovered from this level, pushing back above the 200-bar SMA and settling at $151.52. LTC was able to stay at this level for a couple of sessions before dropping back below the 200 and 20-bar SMAs, and falling to $140.72. LTC continued to drop from this level, slipping below the 50-bar SMA and settling at $133.83. After reaching this level, the price registered a marginal recovery, moving to its current level of $138.
We can see that the MACD and Parabolic SAR are both bearish, indicating that we could see the price drop further.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
The Litecoin price chart shows that LTC has registered a marginal recovery during the ongoing session. If buyers manage to retain the session, LTC could move to $140, but if sellers manage to retake the session, LTC could drop back to $136.