Litecoin Technical Analysis: LTC Registers Marginal Drop As Sellers Look To Push It Below $110 

Daily Litecoin LTC Price Analysis

Last Updated January 31st 2022
3 Min Read
  • The Litecoin price pushed above $110 on Saturday after registering an increase of 1.28%. 
  • The current session sees LTC at $110, with buyers and sellers looking to establish control. 

The Litecoin price has managed to stay above $110, as buyers look to push the price higher during the ongoing session. After a highly volatile session, LTC had registered a marginal drop on Wednesday before registering a marginal recovery on Thursday. Friday saw the price push up by over 2% as it moved to $109.46 before an increase of 1.28% on Saturday saw LTC push above $110. The current session sees LTC still at $110, as buyers and sellers look to establish control. 

Litecoin Price Chart Indicates Buyers Looking To Push LTC Above $110 

The Litecoin price was quite bearish over the previous week, starting off with a drop of nearly 12% on Friday, falling to $114.60. The price continued to drop on Saturday, as it fell to $108.42, before recovering on Sunday and settling at $112.37, registering an increase of nearly 4%. However, LTC fell back on Monday, falling by 2.40% and settling at $109.67, before a further drop of 1.66% on Tuesday saw the price drop to $107.85.

Image: LTC/USD daily

LTC/USD daily chart 013122

The Litecoin price continued to drop on Wednesday, falling by 0.80% after a fairly volatile session and settling at $106.99. However, the price managed to recover on Thursday, registering a marginal increase that pushed LTC to $107. Friday saw a slightly more significant increase, as LTC rose by 2.26% and settled at $109.46. LTC remained in the green over the weekend, rising by 1.28% and moving to $110.86 before pushing to $111 during the ongoing session.

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

IntoTheBlock’s IOMAP for the Litecoin price shows us that LTC has strong support at around $108.32. At this price level, over 99,000 addresses have bought more than 3 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 013122

The 4-hour Litecoin price chart shows us that LTC had dropped to $100.73 on the 24th, falling by nearly 5%. LTC registered a strong recovery from this point, rising to $109.67 and pushing above the 20-bar SMA. With the 20-bar SMA now acting as support, LTC stayed at this level for the next few sessions before rising to $111.65 on the 26th. However, after reaching this level, LTC fell back, dropping below the 20-bar SMA and settling at $104.21. The price pushed back up from this level, rising to $108.30 but could not push past the 20-bar SMA and fell back, dropping to $106.10 on the 28th. LTC recovered from this level and pushed above the 20-bar SMA on the 29th, rising to $109.46, and then went above the 50-bar SMA and moved to its current level of $110.

We can see that the Parabolic SAR is currently bearish, but if the price continues to recover, we could see it flip to bullish.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 013122

Litecoin Price Is Expected To Reach These Levels

The Litecoin price chart shows that buyers and sellers are looking to establish control during the ongoing session. If sellers manage to take the session, we could see LTC slip below $110, but LTC could push to $111 and above if buyers manage to retain the session.