Litecoin Technical Analysis: LTC Looks To Push To $155 As Buyers Retain Control 

Daily Litecoin LTC Price Analysis

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Last Updated December 20th 2021
3 Min Read
  • The Litecoin price had a strong weekend that saw it move above $150 once more. 
  • LTC was quite bearish during the week and had dropped to $144 on Friday. 

The Litecoin price made a strong recovery over the weekend, with the price moving up to $153 during the current session. LTC was quite bearish during the week and had registered a drop of over 3% on Thursday. The price fell back further on Friday, as it dropped to $144.16 after registering a fall of 3.20%. However, the price recovered over the weekend, rising by 3.19% on Saturday and moving to $148.75, before pushing above $150 during the current session, with the price presently at $153. 

Litecoin Price Chart Indicates Buyers Could Push LTC To $155 

The Litecoin price was quite bearish heading into the previous weekend, as the price dropped by over 8% on Thursday, falling to $151.69. LTC continued to drop on Friday, falling by over 2% and settling at $148.62. Despite the bearish sentiment, LTC picked up over the weekend, rising by over 6% on Saturday and then by 0,74% on Sunday, ending the weekend at $159.55. However, Monday saw LTC fall back in the red, dropping by over 9% and settling at $144.59. However, the price recovered on Tuesday and moved up to $150.50.

Image: LTC/USD daily

LTC/USD daily chart 122021

After rising to $150 on Tuesday, the Litecoin price continued to push higher on Wednesday, as it rose by 2.07% and moved up to $153.62. However, on Thursday, the price fell back as sellers forced LTC down by 3.06% to $148.92. Friday saw the price drop further, falling to $144.16 after dropping 3.20%. LTC recovered over the weekend despite the bearish sentiment, rising by 3.19% on Saturday and moving to $148.75. The current session has seen the price push $150, with LTC currently at $153. We can see that the MACD has 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 has strong support at around $151.42. At this price level, over 230,000 addresses have bought more than 5.6 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 122021

The 4-hour Litecoin price chart shows us that LTC had dropped significantly on the 14th, falling to $144.61. The price recovered from this level, as it rose to $151.56 but could not move past the 20-bar SMA and fell back to $143.19 on the 15th. LTC made a strong recovery from this level, as it rose to $152.02, pushing above the 20-bar SMA, and then moved to $156.33, pushing above the 50-bar SMA. However, LTC could not stay at this level and dropped back significantly, falling back below the 50 and 20-bar SMAs and dropping to $144.16 on the 18th. The price pushed back up from this level, moving to $149.28, before pushing back above the 20 and 50-bar SMAs and moving to its current level of $153.

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

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 122021

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has had a fairly bullish weekend, with the price back above $150. If the current sentiment persists, we could see LTC move towards $155 and perhaps even beyond that.