- The Litecoin price is currently up by just over 1%, although LTC has slipped below the $110 level that it reached on Wednesday.
- LTC had been extremely bearish during the previous week but has somewhat arrested the slide to stay above $105 during the week.
The Litecoin price is currently up by just over 1.50%, as buyers look to push LTC back above $110 during the ongoing session. LTC had started the week on a slightly bearish note, dropping by 2.43% to $109.64. LTC continued to fall on Tuesday and Wednesday, dropping by 1.63% and 0.80%, respectively, before registering a marginal recovery during the ongoing session and settling at $108.
Litecoin Price Chart Indicates LTC Looking To Push To $110
The Litecoin price started the previous week on a fairly bullish note, rising by 3.23% and moving to $151.25. However, the 50-day SMA came into play as resistance at this level, and LTC fell back on Tuesday, falling by 6.42% and settling at $141.53. Wednesday saw LTC slip below the 20-day SMA, falling to $136.24 and then fall by 4.63% on Thursday, dropping to $129.94. LTC saw an even more significant drop on Friday, as the price fell by nearly 12%, falling to $114.70 and then slipping to $108.44 on Saturday.
Image: LTC/USD daily
Despite the bearish sentiment, the Litecoin price registered a recovery on Sunday, rising by 3.63% and settling at $112.37. However, LTC fell back on Monday, dropping by 2.43% and settling at $109.64. LTC continued to drop on Tuesday, dropping to $107.85, and then fell to $106.99 on Wednesday, before registering a recovery during the ongoing session and moving to $108.
We can see that the MACD is currently bearish, but if LTC can move to $110, we could see lt flip to bullish.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $107.15. At this price level, over 96,000 addresses have bought more than 5 million LTC.
The 4-hour Litecoin price chart shows us that LTC had pushed up to $142.07 on the 20th. However, the 20-bar SMA was acting as resistance at this level, and LTC fell back, dropping to $122.34. LTC continued to drop from this level, falling to $105.89, before making a gradual recovery and rising to $112.37 on the 24th. However, the 20-bar SMA came into play again as resistance and LTC dropped to $100.73. LTC was able to make a strong recovery from this level, rising to $109.67 after pushing above the 20-bar SMA. LTC continued to push higher, moving to $111.65 before turning bearish and dropping back below the 20-bar SMA to $104.21 and then moving to its current level of $108.
We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
The Litecoin price chart shows that LTC has registered a marginal increase during the ongoing session. If buyers can retain the current sentiment, we could see LTC push towards $110. However, if sellers manage to retake the session, LTC could slip below $108.