- The Litecoin price registered a marginal drop during the current session, as it slipped below $150.
- LTC was quite bearish during the week and had dropped by nearly 7% on Tuesday.
The Litecoin price slipped below $150 during the ongoing session, as sellers look to push the price towards $145. LTC had registered a marginal drop on Wednesday before rising by nearly 2% on Thursday and moving to $148.05. The price fell back in the red on Friday, dropping to $146.11 before rising over 3% on Saturday and settling at $150.78.
Litecoin Price Chart Indicates Sellers Looking To Push LTC To $145
The Litecoin price was quite bearish over the previous weekend, as LTC dropped by 1.50% on Friday. The price continued to drop over the weekend, falling over 2% on Saturday and then 1.35% on Sunday, ending the weekend at $155.79. LTC could register only a marginal recovery on Monday before falling back in the red on Tuesday, dropping below the 20-day SMA and settling at $145.69, falling by nearly 7%, before registering a marginal drop on Wednesday.
Image: LTC/USD daily
After Wednesday’s marginal drop, the Litecoin price recovered on Thursday, rising by nearly 2% and settling at $148.05. On Friday, the price fell back, dropping to $146.11, but made a strong recovery over the weekend. LTC rose by over 3% on Saturday, rising to $150.78, before dropping back during the current session and slipping below $150.
We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further. However, it could flip to bullish should LTC recover.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $147.51. At this price level, over 220,000 addresses have bought over 10 million LTC.
Looking at the 4-hour Litecoin price chart, we can see that LTC had dropped to $146.48 on the 28th. The price recovered from this level, rising to $150.05, before dropping back in the red and falling to $144.99 on the 30th. LTC made a strong recovery from this price level, as it rose to $148.38 and then pushed above the 20-bar SMA on the 31st, rising to $150.69. The price fell back after reaching this level, dropping below the 20-bar SMA and settling at $143.77. However, LTC made a strong recovery from this level, pushing back above the 20-bar SMA and settling at $150.78, and then dropping to its current level of $149.
We can see that the Parabolic SAR and MACD are both 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 strong support at around $147. If the price recovers, we could see LTC push back above $150.