- The Litecoin price pushed above $110 during the ongoing session, with LTC currently up by over 2%.
- LTC had been exceptionally bearish during recent sessions and had dropped by nearly 12% on Friday.
The Litecoin price registered a fairly strong recovery during the ongoing session, as it looks to reverse the recent bearish trend, with LTC currently up over 2%. LTC had ended the weekend on a fairly positive note, registering an increase of 3.63% on Sunday and settling at $112.37. The price fell back in the red on Monday, dropping by 2.43%, and then registered a drop of 1.63% on Tuesday, dropping to $107.85.
Litecoin Price Chart Indicates LTC Could Push Above $110
The Litecoin price started the previous week on a fairly bullish note, registering an increase of 3.23% on Monday. However, the price fell back in the red on Tuesday, dropping by 6.42% and settling at $141.53. Wednesday saw LTC slip below the 20-day SMA and settle at $136.24 after a drop of nearly 4%. The price remained bearish on Thursday as well, falling by nearly 5% and settling at 4129.86, and then fell by nearly 12% on Friday, settling at $114.70.
Image: LTC/USD daily
The weekend started with the bearish sentiment persisting, as the Litecoin price dropped by 5.46% on Saturday and fell to $108.44. Despite the bearish sentiment, LTC was able to register a recovery on Sunday, rising by 3.63% and moving to $112.37. However, LTC was back in the red on Monday, as it dropped by 2.43% and fell to $109.64, and then dropped to $107.85 on Tuesday. The current session sees LTC at $110, as buyers look to push the price above $110. The MACD is currently bearish, but if the price continues to push higher, 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 $105.21. At this price level, over 73,000 addresses have bought more than 3.1 million LTC.
The 4-hour Litecoin price chart indicates that LTC had pushed up to $142.07 on the 20th. However, the 20-bar SMA was acting as resistance at this level, and the price fell back significantly, dropping to $122.34. LTC remained bearish after reaching this level and fell further to $105.77 on the 22nd. LTC registered a gradual recovery from this level, rising to $112.37, but could not move past the 20-bar SMA and fell back, dropping to $100.73 on the 24th. LTC was able to register a significant recovery from this level, as it rose to $109.67, pushing above the 20-bar SMA and moving to its current level of $110.
We can see that the MACD and Parabolic SAR are both currently bullish, indicating that we could see the price push 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 registered a fairly strong recovery during the ongoing session. If the current sentiment persists, we could see LTC push above $110.