- The Litecoin price has pushed up significantly during the ongoing session.
- LTC has been fairly bullish during the current week, despite starting the week in the red.
The Litecoin price has surged past $160, as buyers pushed the price up significantly during the current session. LTC had started the week in the red, registering a marginal drop on Monday. However, the price pushed back up on Tuesday, rising by 1.50%. Wednesday saw LTC post another marginal increase, as the price increased by 0.27%, before surging by nearly 5% during the current session.
Litecoin Price Chart Indicates LTC Could Push To $165
The Litecoin price was extremely bearish at the start of the previous week, dropping by over 9% on Monday. LTC recovered on Tuesday, rising by over 4% on Tuesday and then rising by 2.07% on Wednesday to settle at $153.62. However, the price fell back on Thursday, dropping by 3% and settling at $148.92. Friday saw LTC continue to drop, as it fell by 3.11% and settled at $144.28. LTC recovered over the weekend despite the bearish sentiment, rising by 3.15% on Saturday.
Image: LTC/USD daily
After pushing up to $148.83 on Saturday, the Litecoin price continued to push up on Sunday, rising by 3.03% and settling at $153.34. LTC fell back in the red on Monday, as the price dropped marginally, but was back in the green on Tuesday, rising by 1.50%. Wednesday saw another marginal increase before LTC pushed up significantly during the current session, with the price moving to $162.
We can see that the Parabolic SAR is still 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 $150.44. At this price level, over 330,000 addresses have bought more than 6.4 million LTC.
The 4-hour Litecoin price chart shows us that LTC had pushed up to $154.32 on the 19th, pushing above the 20 and 50-bar SMAs. The price was able to stay at this level for the next few sessions before falling back below the 20 and 50-bar SMAs and settling at $147.83 on the 20th. LTC pushed up significantly from this level, pushing back above the 20 and 50-bar SMAs and surging to $157.78 on the 22nd. The price dropped marginally from this level, falling to $154.51 before surging to $164.19. The current session sees LTC at $163, and with the Parabolic SAR and MACD both bullish, 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 been highly bullish during the current week. If the current sentiment persists, we could see LTC push to $165.