- The Litecoin price showed signs of recovery during the current session, registering a marginal increase.
- LTC was quite bullish over the weekend but fell into the red during the current week.
The Litecoin price rose to $231 as buyers looked to push the price back up. LTC was quite bullish over the weekend, and the price shot up by over 8% on Sunday. LTC fell into the red as the current week started on a bearish note, with the price dropping by almost 6% on Monday. Tuesday saw another significant drop, with LTC dropping by over 12% and settling at $230.
Litecoin Price Chart Indicates Buyers Looking To Push Price Towards $240
The Litecoin price was quite bullish during the previous week, as the price shot up by over 13% on Monday, moving up to $229.01. The bullish sentiment persisted on Tuesday, as LTC posted an even bigger increase of over 14% and moved up to $262.03. On Wednesday, the price registered a marginal drop but recovered on Thursday, as the price pushed back up by 0.675. However, despite the bullish sentiment prevailing during the week, LTC fell sharply on Friday, dropping by over 4% and settling at $251.28.
Image: LTC/USD daily
After dropping to $251.28 on Friday, the Litecoin price picked up over the weekend, as LTC rose by 2.57% on Saturday and by over 8% on Sunday to end the weekend at $279.30. However, the price fell back in the red on Monday, dropping by almost 6% on Monday, with the price dropping to $262.93. Tuesday saw the price drop drastically, with LTC falling by over 12% and settling at $230.46. The current session sees buyers and sellers vying for control of the session. We can also see that the MACD and Parabolic SAR have both flipped to bearish, indicating that the price could drop during the current session.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $211.67. At this price level, more than 39,000 addresses have bought over 6 million LTC.
The 4-hour Litecoin price chart shows us that LTC was at $275.73 on the 12th. The price fell back from this level, as it slipped below the 20-bar SMA and dropped to $248.04. LTC pushed up from this level, rising to $261.53, but with the 20-bar SMA acting as resistance, the price dropped back to $252.29. LTC pushed up once again from this level, moving past the 20-bar SMA and rising to $279.30. However, after reaching this level, LTC turned bearish, and the price slumped to $223.11, slipping below the 20 and 50-bar SMA. The price then rose to its current level of $229.
We can see that LTC had almost slipped below the neutral zone on the 17th, but with a marginal increase, the price moved back into the neutral zone.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Looking at the Litecoin price chart, we can see buyers and sellers vying for control of the current session. If sellers take control of the session, we could see the price drop to $220. However, if buyers take over, then LTC could push up above $230.