Litecoin Price Prediction: LTC Looks To Move To $130 

Daily Litecoin LTC Technical Analysis

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Last Updated February 8th 2022
2 Min Read
  • The Litecoin price has registered a marginal increase during the ongoing session. 
  • LTC has been fairly bullish in recent sessions and had pushed up by over 9% on Friday. 

The Litecoin price started the week positively, as it managed to register a marginal increase during the current session. LTC had reported a significant rise on Friday, rising by over 9% and moving to $121.45. The price remained positive over the weekend, registering a marginal increase on Saturday and then pushing up by nearly 5% on Sunday, ending the weekend at $127.69. The current session sees LTC at $128, as buyers look to move LTC to $128. 

Litecoin Price Chart Indicates LTC Could Push To $130 

The Litecoin price started the previous weekend on a fairly positive note, rising by 2.26% on Friday. On Saturday, the price remained bullish, pushing up to $110.87, but fell back on Sunday, dropping by nearly 2% and falling to $108.70. LTC recovered on Monday, registering a marginal increase and then pushed up by over 5% on Tuesday, moving to $115.12. However, LTC fell back in the red on Wednesday, dropping by nearly 6% and falling to $108.40. 

Image: LTC/USD daily

LTC/USD daily chart 020822

After dropping by almost 6% on Wednesday, the Litecoin price recovered on Thursday, rising by over 2% and moving to $110.91. Friday saw LTC register a significant increase, as it pushed above the 20-day SMA and moved to $121.45 after registering an increase of over 9%. The weekend saw LTC remain bullish, reporting a marginal increase on Saturday and then pushing up by nearly 5% on Sunday to end the weekend at $127.69. The current session sees LTC up marginally, as buyers look to push the price higher.

We can see that the Parabolic SAR has flipped to 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 $146.18. At this price level, over 125,000 addresses have sold more than 4.2 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 020822

The 4-hour Litecoin price chart shows us that LTC had pushed up to $111.58 on the 1st. LTC continued to push higher from this level and moved up to $115.12 on the 2nd. However, LTC fell back after reaching this level, slipping below the 20-bar SMA and dropping to $108.40. LTC continued to drop from this point and slipped below the 50-bar SMA, dropping to $107.75. With the 50-bar SMA acting as resistance, LTC could not push past this level until the 4th, when it pushed above the 20 and 50-bar SMAs and rose to $111.90. The price continued to push higher and surged to $123.42on the 5th before pushing above the 200-bar SMA and moving to its current level of $129.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 020822

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has been extremely bullish over the past few sessions. If the current sentiment persists, we could see LTC push to $130.