- The Litecoin price fell back in the red during the ongoing session, slipping below $150.
- LTC was quite bullish over the weekend and had pushed up to $153 on Sunday.
The Litecoin price fell back during the ongoing session, as sellers drove LTC back below $150, a drop of almost 4%. LTC was in the red on Friday as well, when it had registered a drop of over 3% and settled at $144.16. However, the weekend saw a strong recovery, as LTC pushed up by 3.19% on Saturday, rising to $148.75. Sunday saw LTC continue to push higher, with the price rising to $148, before dropping off during the current session.
Litecoin Price Chart Indicates LTC Could Drop To $145
The Litecoin price was quite bullish over the previous weekend, as LTC registered an increase of over 6% on Saturday and 0.74% on Sunday to end the weekend at $159.15. Despite the bullish weekend, LTC fell back on Monday when it registered a drop of over 9% and settled at $144.59. LTC recovered on Tuesday as buyers returned to the market, pushing the price back up by over 4% to $150.50 before another increase on Wednesday saw LTC push up to $153.62.
Image: LTC/USD daily
After pushing up to $153 on Wednesday, the Litecoin price fell back on Thursday, dropping by over 3% and settling at $148.92. The price continued to drop on Friday, as LTC dropped by a further 3.20% and settled at $144.16. However, despite the bearish sentiment, the price recovered over the weekend, as LTC rose by 3.19% on Saturday and then by 3.02% on Sunday to end the weekend at $153.25. However, the current session has seen a significant drop, with sellers pushing LTC back below $150.
We can see that the Parabolic SAR is currently bearish, indicating that we could see the price continue to drop.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC faces strong resistance at around $149.94. At this price level, over 198,000 addresses have sold more than 5.5 million LTC.
Image: IntoTheBlock
The 4-hour Litecoin price chart shows us that LTC had dropped to $143.19 on the 15th. LTC pushed up significantly from this level, as the price pushed above the 20-bar and 50-bar SMAs to settle at $156.33. However, LTC fell drastically from this level, slipping back below the 20 and 50-bar SMAs and settling at $144.16 on the 18th. LTC rose to $149.28 from this level but could not push past the 20-bar SMA until the 19th when the price pushed above the 20 and 50-bar SMAs and settled at $154.31. LTC was able to stay above the 50-bar SMA, rising to $155, but then fell back significantly, falling back below the 20 and 50-bar SMAs and settling at its current level of $147.
We can see that the Parabolic SAR and MACD are currently bullish, but if the price continues to drop, we could see them flip to bearish.
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 fallen significantly during the ongoing session. If sellers manage to retain control of the session, we could see LTC drop to $145.