- The Litecoin price has risen significantly during the ongoing session, with LTC currently up by over 4%.
- LTC has been quite bullish since the start of the week after registering a sharp drop on Friday.
The Litecoin price has continued to push up as it moved above the 20-day SMA during the ongoing session. LTC has been quite bullish since the weekend, pushing up by over 2% on Sunday. The price increased on Monday, as LTC moved up by over 3% and then registered a marginal increase on Tuesday to move to $207.93. The current session sees LTC at $217, with buyers looking to push the price above the 20-day SMA.
Litecoin Price Chart Indicates LTC Could Push To $220
The Litecoin price had started the previous weekend on a bullish note, as it rose by over 4% on Saturday. However, the price fell back on Sunday, dropping to $221.39. LTC continued to drop on Monday, as it registered a drop of over 5%, falling to $209.28, before recovering on Tuesday, rising by 3.38% and settling at $216.36. LTC fell back on Wednesday, falling by 1.89%, but recovered on Thursday, rising by over 5% and moving to $222.90. Despite the bullish sentiment, LTC dropped significantly on Friday, dropping by over 12%, slipping below the 50-day SMA and $200, and settling at $195.94.
Image: LTC/USD daily
After dropping by over 12% on Friday, the Litecoin price remained bearish on Saturday, as it registered a marginal drop, before pushing up by 2.21% on Sunday and ending the weekend at $199.65. LTC remained bullish on Monday, as it started the week rising by over 3% and settling at $205.67. On Tuesday, the price continued to push up, moving to $207.93, before moving past the 50-day SMA during the ongoing session.
We can see that the Parabolic SAR has just 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 $212.87. At this price level, over 156,000 addresses have bought more than 7.4 million LTC.
Image: IntoTheBlock
The 4-hour Litecoin price chart shows us that LTC had dropped to $207.61 on the 24th. The price pushed up significantly from this level, as it moved beyond all three SMAs and rose to $226.83. However, after reaching this level, the price turned bearish and fell back below the three SMAs, and settled at $191.51 on the 26th. LTC pushed up marginally from this level before falling to $189.88 on the 29th. The price then pushed above the 20-bar SMA before rising above the 50-bar SMA on the 30th, rising to $208.51. LTC then pushed further and rose to its current level of $215.
We can see that the MACD is currently bullish, indicating that the price could 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 has been bullish all week and has risen significantly during the current session. If buyers retain control of the session, then we could see LTC push above $220.