Litecoin Price Prediction: LTC Registers Significant Surge, Looks To Move To $130

Daily Litecoin LTC Technical Analysis

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Last Updated February 7th 2022
3 Min Read
  • The Litecoin price is up considerably during the current session, up by over 3%. 
  • LTC has been relatively bullish over the past few sessions and had surged over 9% on Friday. 

The Litecoin price continued to push higher as buyers look to push LTC to $130 as the bullish sentiment continues to persist. LTC had registered a significant increase on Thursday, rising by over 2% and settling at $110.91. On Friday, the price continued to push higher as it surged by over 9%, moving above the 20-day SMA and settling at $121.45. The weekend saw LTC remain bullish, registering a marginal increase on Saturday before pushing up considerably during the ongoing session. 

Litecoin Price Chart Indicates LTC Could Push To $130 

The Litecoin price was quite bullish heading into the previous weekend, rising by 2.26% on Friday. LTC continued to push higher over the weekend, rising by 1.29% on Saturday before dropping back on Sunday and ending the weekend at $108.70. Monday saw LTC back in the green, rising by 0.84% and surging by over 5% on Tuesday, settling at $115.12. Despite the bullish sentiment, LTC fell back on Wednesday, dropping by nearly 6% and settling at $108.40.

Image: LTC/USD daily

LTC/USD daily chart 020722

After dropping by over 6% on Wednesday, the Litecoin price made a strong recovery on Thursday, rising by 2.31% and moving to $110.91. Friday saw LTC register a significant surge, as the price rose by over 9%, pushing above the 20-day SMA and settling at $121.45. The price continued to move higher over the weekend, registering a marginal increase on Saturday before pushing up considerably during the ongoing session.

We can see that the Parabolic SAR has just flipped to bullish, indicating that we could see the price push higher.

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $142.96. At this price level, over 85,000 addresses have sold more than 3.6 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 020722

The 4-hour Litecoin price chart shows us that LTC had dropped to $105.32 on the 31st. LTC could register a significant recovery from this level, as it pushed up to $109.82, moving above the 20 and 50-bar SMAs. The price continued to push higher from this level, rising to $115.12 on the 2nd, before falling back significantly, slipping below the 20-bar SMA and settling at $110.08. LTC continued to drop from this level, dropping to $107.75, and with the 50-bar SMA acting as resistance stayed at this level until the 4th. On the 4th, LTC pushed up considerably, rising above the 50-bar SMA and moving to $110.99, and then surging past the 20-bar SMA and moving to $121.45. After reaching this level, LTC continued to remain bullish and pushed higher, moving to its current level of $125.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 020722

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has been extremely bullish over the past few sessions, pushing up considerably. If the current sentiment persists, we could see LTC push towards $130. However, if the price drops, LTC could fall back towards $120.