Litecoin Price Analysis: LTC Registers Marginal Increase, Pushes Above $150 

Daily Litecoin LTC Price Forecast

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Last Updated December 22nd 2021
3 Min Read
  • The Litecoin price managed to stay above $150, as LTC registered a marginal increase during the current session. 
  • LTC was quite bullish over the weekend and had pushed up to $153 on Sunday. 

The Litecoin price managed to stay above $150, registering only a marginal drop on Monday, before pushing up marginally during the current session. LTC was quite bearish heading into the weekend, recording a drop of over 3% on Friday. The price recovered on Saturday, rising by 3.19% and settling at $148.75. The price continued to increase on Sunday, as it rose to $153.25 on Sunday before dropping back marginally on Monday. 

Litecoin Price Chart Indicates Buyers And Sellers Struggling To Control Current Session. 

The Litecoin price started the previous weekend on a reasonably positive note, registering an increase of over 6% on Saturday and 0.74% on Sunday to end the weekend at $159.15. However, the price fell back in the red on Monday, dropping by over 9% and settling at $144.59. Despite the bearish start to the week, LTC recovered on Tuesday, rising by over 4% and settling at $150.50. The price continued to increase on Wednesday, rising by 2.07% and settling at $153.62.

Image: LTC/USD daily

LTC/USD daily chart 122221

The Litecoin price fell back in the red on Thursday, falling by over 3% and settling at $148.92. Friday saw LTC drop further, with sellers pushing the price down by 3.20% to $144.16. However, the weekend saw LTC post a strong recovery, as the price rose to $148.75 on Saturday. Sunday saw LTC continue to push higher, rising by just over 3% and settling at $153.25. Despite the bullish weekend, LTC was back in the red on Monday, dropping by 0.36%, before posting a marginal recovery during the current session.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop. However, if the price recovers, we could see it flip to bullish.

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $151.19. At this price level, over 239,000 addresses have bought over 6 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 122221

Looking at the 4-hour Litecoin price chart, we can see that LTC had pushed above the 20-bar SMA on the 15th when it rose to $152.02. LTC continued to push from this level, as it rose above the 50-bar SMA and settled at $156.33. However, the price fell back after reaching this level, dropping below the 50 and 20-bar SMAs and falling to $144.16 on the 18th. LTC surged from this level, as it rose to $149.28. At this level, the 20-bar SMA was acting as resistance, and LTC could push past it only on the 19th, when the price rose to $154.32, pushing above the 20 and 50-bar SMAs. LTC stayed at this level until the 20th when the price dropped below the 50 and 20-bar SMAs and settled at $147.83. The price pushed up from this level, moving back above the two SMAs and setting at its current level of $153.

We can see that the MACD has flipped to bullish, indicating that we could see the price push higher.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 122221

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that buyers and sellers are vying to control the current session. If buyers retain control, we could see LTC move to $155. However, if sellers retain control, the price could drop to $150 or below.