Litecoin Price Prediction: LTC Recovers After Tuesday Drop, Looks To Move To $140

Daily Litecoin LTC Technical Analysis

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Last Updated February 10th 2022
3 Min Read
  • The Litecoin price is up by over 2% during the ongoing session, as buyers look to push the price higher. 
  • In recent sessions, LTC has been fairly bullish, with the price surging by nearly 8%. 

The Litecoin price is back in the green during the ongoing session, as buyers look to push the price above $140 after Tuesday’s drop. LTC had ended the weekend on a reasonably positive note, rising by nearly 5% on Sunday and moving to $127.69. Monday saw LTC continue to push higher, rising by almost 8%, pushing above the 50-day SMA and rising to $137.34, before dropping back on Tuesday and falling to $133.95. The current session sees LTC at $137, as buyers look to push the price higher. 

Litecoin Price Chart Indicates Buyers Looking To Push The Price To $140 

The Litecoin price had ended the previous weekend in the red, dropping by almost 2% and ending the weekend at $108.70. On Monday, the price recovered, registering a marginal increase before pushing up by over 5% on Tuesday and settling at $115.12. Wednesday saw ADA fall back, as the price dropped by nearly 6%, falling to $108.40, before recovering on Thursday and registering an increase of over 2%. Friday saw LTC surge by over 9%, as it pushed above the 20-day SMA and rose to $121.45.

Image: LTC/USD daily

LTC/USD daily chart 021022

The Litecoin price remained bullish over the weekend, rising by 0.39% on Saturday and then registering an increase of nearly 5% on Sunday to end the weekend at $127.69. Monday saw LTC continue to push higher, as the price rose by nearly 8%, pushing above the 50-day SMA and settling at $137.34. However, the price fell back on Tuesday, dropping by 2.47% before recovering during the current session.

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

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $147.63. At this price level, over 185,000 addresses have sold more than 3.8 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 021022

The 4-hour Litecoin price chart shows us that LTC had dropped to $107.92 on the 3rd, slipping below the 20 and 50-bar SMAs. The price recovered from this level and pushed back above the 20 and 50-bar SMAs, rising to $111.90. LTC remained bullish after reaching this level, as the price surged to $123.42 on the 5th and then went past the 200-bar SMA on the 7th, rising to $127.69. The price continued to push higher from this level, pushing up to $140.84. However, the price fell back from this level, dropping to $131.90, before recovering and rising to its current level of $137.

We can see that the MACD and Parabolic SAR are currently bearish, but if LTC continues to push higher, we could see them flip to bullish.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 021022

Litecoin Price Is Expected To Reach These Levels

The Litecoin price chart shows us that LTC has made a fairly strong recovery during the current session after dropping back on Tuesday. If the current sentiment persists, we could see LTC push to $140.