Litecoin Technical Analysis: LTC Pushes To $155, Looks To Move Past 20-Day SMA 

Daily Litecoin LTC Price Analysis

By
Last Updated December 23rd 2021
2 Min Read
  • The Litecoin price is marginally up during the current session, as buyers pushed LTC to $155
  • LTC has been fairly bullish during the current week, although it had started Monday on a slightly bearish note. 

The Litecoin price pushed up marginally during the ongoing session, as buyers pushed the price to $155. LTC has been quite bullish since the weekend, registering an increase of over 3% on Saturday. Sunday saw LTC continue to push higher, rising to $153.34. Despite the bullish weekend, LTC fell back in the red on Monday before recovering on Tuesday and settling at $154.94, registering an increase of 1.45%. 

Litecoin Price Chart Indicates LTC Looking To Move Above 20-Day SMA. 

The Litecoin price started the previous week on an extremely bearish note, registering a drop of over 9% on Monday and falling to $144.59. The price recovered on Tuesday, rising by over 4% and settling at $150.50. Wednesday saw LTC continue to push up, moving to $153.62 after rising by over 2%. On Thursday, the price fell back in the red, dropping by 3.06%, and then fell further on Friday, dropping by 3.11% and settling at $144.28.

Image: LTC/USD daily

LTC/USD daily chart 122321

After dropping to $144.28, the Litecoin price made a strong recovery over the weekend, rising by 3.15% on Saturday and then rising by 3.03% on Sunday to end the weekend on a positive note at $153.34. Despite the bullish weekend, Monday saw LTC register a marginal drop before pushing back up on Tuesday and settling at $154.94. LTC pushed above $155 during the ongoing session, and with a bullish MACD, we could see the price push up further.

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $152.69. At this price level, over 300,000 addresses have bought more than 7.4 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 122321

Looking at the 4-hour Litecoin price chart, we can see that LTC had dropped to $144.16 on the 18th. From this level, the price pushed up significantly, rising to $149.28. At this level, the 20-bar SMA was acting as resistance; LTC could only push above this level on the 19th when it surged to $154.32. LTC was able to stay at this level for the subsequent few sessions before dropping back below the 20 and 50-bar SMAs and falling to $147.83. The price pushed back above the 20 and 50-bar SMAs on the 21st when LTC rose to $152.72 and then rose to its current level of $155.

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

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 122321

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we see that LTC has been fairly bearish during the current week. If the current sentiment persists, we could see LTC push above $155.