- The Litecoin price is currently down by nearly 3%, managing to stay at $106.
- LTC has been incredibly bearish in recent sessions and had registered a drop of nearly 12% on Friday.
The Litecoin price is currently at $106.65, down by nearly 3%, as the price pushed back up from its intraday low of $97 recorded on Monday. LTC was quite bearish over the weekend, registering a drop of 5.46% and falling to $108.44. Despite the bearish sentiment, the price recovered, rising by 3.63% and moving to $112.37, before falling back on Monday and dropping to $109.64, registering a drop of 2.43%.
Litecoin Price chart Indicates LTC Could Push Towards $110
The Litecoin price was quite bullish during the previous weekend, rising by over 7% on Saturday and then registering a marginal drop on Sunday to end the weekend at $146.52. The price was back in the green on Monday, as it rose to $151.25, but with the 50-day SMA acting as resistance, the price fell back on Tuesday, dropping over 6% and settling at $141.53. Wednesday saw LTC slip below the 20-day SMA, falling to $136.24 and then registering a drop of nearly 5% on Thursday, dropping to $129.94.
Image: LTC/USD daily
The Litecoin price remained bearish on Friday, as it registered a significant drop of nearly 12%, falling to $114.70. The weekend saw LTC remain in the red on Saturday, dropping by 5.46% and settling at $108.44. Despite the bearish sentiment, LTC managed to register an increase of 3.63% on Sunday, rising to $112.37. However, Monday saw ADA back in the red, falling by 2.43% to $109.64. The current session sees LTC at $107, as it looks to push towards the resistance at $109.
We can see that the MACD is currently bearish, but if the price manages to move above $110, we could see it flip to bearish.
IntoTheBlock’s IOMAP for the Litecoin price shows that LTC faces strong resistance at around $109.20. At this price level, over 65,000 addresses have sold more than 2.6 million LTC.
Image: IntoTheBlock
The 4-hour Litecoin price chart indicates that LTC had dropped to $133.82 on the 19th. The price pushed back up from this level, rising to $142.07, where the 20-bar SMA acted as resistance. As a result, the price fell back to $122.34 on the 21st and then to $105.77 on the 22nd. LTC was able to recover from this level, as it gradually pushed up to $112.37 on the 24th. The price fell back from this level, dropping to $100 on the 24th, before recovering, pushing above the 20-bar SMA, moving to its current level of $107.
We can see that the Parabolic SAR and MACD are both currently bullish, indicating that 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 see that LTC is still down by 1% during the ongoing session. However, the price has clawed back from a low of $105 to climb to its current level of $108. If the current sentiment persists, we could see LTC move to $110.