Litecoin Technical Analysis: LTC Continues Recovery, Pushes Above $130 

Daily Litecoin LTC Price Analysis

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Last Updated January 13th 2022
3 Min Read
  • The Litecoin price registered a sharp increase on Tuesday, rising by nearly 4%. 
  • The current session sees ADA up marginally, as buyers look to push the price beyond $132. 

The Litecoin price has registered a marginal increase during the current session, as LTC moved to $132. On Saturday, LTC had registered a marginal drop, falling by 1.20%, but recovered on Sunday, rising by 1% and ending the weekend at $130.86. The price fell back in the red on Monday, dropping by 3.25% to $126.61. However, LTC was able to reverse the bearish trend on Tuesday, as it rose by nearly 4%, settling at $131.64, before pushing to $132 during the current session. 

Litecoin Price Chart Indicates Buyers Looking To Push LTC Beyond $132 

The Litecoin price started the previous week in the red, dropping by 1.76% on Monday. LTC continued to drop on Tuesday, as sellers pushed the price down by 1.42% to $146.43. Wednesday saw a significant price drop, as LTC dropped by nearly 8%, slipping below $140 and settling at $135.26. LTC was able to register a marginal recovery on Thursday, as it rose by 0.57% but fell back in the red on Friday, dropping by 3.59% and settling at $131.15.

Image: LTC/USD daily

LTC/USD daily chart 011322

The Litecoin price remained in the red on Saturday, as LTC fell by 1.20%, settling at $129.57. However, the price recovered on Sunday, ending the weekend at $130.86 after a marginal increase. LTC fell back on Monday, dropping by 3.25% and settling at $126.61, but made a strong recovery on Tuesday, as buyers pushed LTC up by nearly 4% to $131.64. The current session sees LTC at $132, with buyers still in control.

We can see that the MACD is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

IntoTheBlock’s IOMAP for the Litecoin price shows that LTC faces strong resistance at around $146.43. At this price level, over 127,000 addresses have sold more than 5.7 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 011322

The 4-hour Litecoin price chart shows us that LTC had pushed up to $134.37 on the 8th. However, the 20-bar SMA was acting as resistance at this level, and LTC fell back to $127.06. The price pushed back up from this level, rising to $130.50 and then to $132.35 on the 9th. However, LTC was unable to push past the 20-bar SMA again and dropped to $129.26 and then to $124.50. LTC was able to make a strong recovery from this level, rising to $129.31 and then pushing past the 20-bar SMA, moving to $131.69 on the 11th. LTC then moved to its current level of $132.

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

LTC/USD 4-hour chart 011322

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has made a strong recovery over the past couple of sessions. If buyers are able to retain control, LTC could push past $132 and possibly settle around $135.