Litecoin Price Prediction: LTC Looks To Reverse Bearish Trend 

Daily Litecoin LTC Technical Analysis

Last Updated February 23rd 2022
2 Min Read
  • The Litecoin price is marginally up during the ongoing session, as LTC looks to stay above the $100 mark. 
  • LTC had been extremely bearish over the weekend and had dropped by nearly 7% on Monday. 

The Litecoin price registered a marginal increase, as it looks to reverse its recent bearish trend. LTC had started the weekend in the green, as the price rose by 0.68%, rising to $115.63 on Saturday. The price dropped on Sunday, falling by 4.37%, settling at $110.58 on Sunday, and then dropping to $102.87 on Monday before pushing up during the ongoing session. 

Litecoin Price Chart Indicates Buyers And Sellers Looking To Establish Control 

The Litecoin price had started the previous weekend on a fairly positive note, rising by 1.04% on Saturday before dropping back on Sunday and ending the weekend at $125.67. LTC continued to drop on Monday, falling by 0.83% before recovering on Tuesday, rising by almost 6%, pushing above the 50-day SMA and settling at $131.71. However, LTC fell back on Wednesday, dropping back below the 50-day SMA and settling at $127.75. Thursday saw LTC register a significant drop, dropping by almost 9%, slipping below the 20-day SMA, and settling at $116.36.

Image: LTC/USD daily

LTC/USD daily chart 022322

The Litecoin price continued to drop on Friday, falling by 1.29% before recovering on Saturday and registering a marginal increase. However, LTC fell back in the red on Sunday, dropping by 4.37% and ending the weekend at $110.58. LTC remained bearish on Monday, dropping by almost 7%, falling to $102.87, before dropping to $101 during the ongoing session.

We can see that the MACD is currently bearish, indicating that we could see the price drop further.

IntoTheBlock’s IOMAP for the Litecoin price shows that LTC faces strong resistance at around $112.35. At this price level, over 128,000 addresses have sold more than 2.9 million LTC.

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Image: IntoTheBlock

LTC/USD volume chart 022322

The 4-hour Litecoin price chart shows us that LTC had dropped to $126.49 on the 17th, slipping below the 20-bar SMA. LTC continued to drop from this level, slipping below the 200-bar SMA and dropping to $116.36 on the 18th. LTC made a marginal recovery from this level, rising to $118.35 but fell back significantly, dropping to $110.41 on the 20th. The price recovered from this point, rising to $113.41 before dropping significantly to $102.87 and then dropping to its current level of $101.

We can see that the Parabolic SAR and MACD are both bearish, indicating that we could see the price drop further.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 022322

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has been extremely bearish during recent sessions. If the current bearish sentiment persists, we could see LTC drop below $100. However, if the price recovers, LTC could push to $105.

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