- The Litecoin price has posted a recovery during the ongoing session, as buyers look to Push LTC above the 20-day SMA.
- LTC had registered a sharp drop on Tuesday, falling by nearly 7%.
The Litecoin price is currently up by nearly 2%, as buyers look to push LTC back above $150. LTC had ended the weekend on a fairly positive note, with the price at $151.19. However, the price fell back on Monday, dropping by nearly 2% as the week got off to a bearish start. Tuesday saw LTC continue to fall, dropping by 1.41% and settling at $146.44, before recovering during the ongoing session.
Litecoin Price Chart Indicates LTC Could Push To $150
The Litecoin price started the previous week with a marginal increase on Monday. However, LTC fell back on Tuesday, falling by nearly 7% and settling at $145.78, slipping below the 20-day SMA. The price remained bearish on Wednesday, registering a marginal increase, before recovering and pushing up by nearly 2% to 4148.02 on Thursday. On Friday, the price fell back in the red, dropping by 1.29% and settling at $146.11.
Image: LTC/USD daily
After ending Friday at $146.11, the Litecoin price posted a strong recovery over the weekend, rising over 3% on Saturday and moving to $150.78. The price continued to push up on Sunday, registering a marginal increase and settling at $151.19. However, with the 20-day SMA coming into play as resistance, LTC fell back on Monday, dropping by nearly 2%. LTC continued to drop on Tuesday, falling by 1.41% and settling at $146.44, before recovering during the ongoing session.
We can see that the Parabolic SAR is currently bearish, but if LTC can push past the resistance at the 20-day SMA, 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 $147.58. At this price level, over 236,000 addresses have bought over 10 million LTC.
Image: IntoTheBlock
The 4-hour Litecoin price chart shows us that LTC had registered a sharp fall on the 31st, falling to $143.90. The price pushed back up from this level, rising to $148.10 and pushing above the 20-bar SMA. LTC continued to push higher from this level, rising to $151.42 on the 2nd, where the 50-bar SMA acted as resistance. LTC could not move past the level and fell back below the 20-bar SMA on the 3rd, dropping to $148.02. The price pushed back above the 20 and 50-bar SMA from this level, rising to $150.24 and then slipping back below the SMAs and settling at $146.43. From this level, LTC pushed up to its current level of $148.
We can see that the MACD has just flipped to bullish, indicating that LTC could push above the 20-bar SMA and continue to move higher.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Looking at the Litecoin price chart, we can see that LTC has recovered during the session. If buyers can retain control of the session, we could see LTC push to $150.