Litecoin Technical Analysis: LTC Registers Marginal Increase, Rises To $157 

Daily Litecoin LTC Price Analysis

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Last Updated December 28th 2021
3 Min Read
  • The Litecoin price registered a marginal increase after a relatively bearish weekend and is presently up by over 1%. 
  • LTC had been quite bearish over the weekend and had dropped to $155 on Sunday. 

The Litecoin price registered a marginal increase during the ongoing session, as LTC Looks to move to $160. LTC had registered a significant increase on Thursday, rising by over 5% and settling at $163.69. The price fell back on Friday, falling to $161.24. Saturday saw LTC slip below $150, as the price dropped to $157.92, before dropping by 1.35% on Sunday and ending the weekend at $155. 

Litecoin Price Chart Indicates LTC Could Push To $160 

The Litecoin price was fairly bullish over the previous weekend, rising by over 3% on Saturday and 3.03% on Sunday to end the weekend at $153.34. The price fell back on Monday, registering a marginal drop, before rising by 1.50% on Tuesday and settling at $155.01. Wednesday saw LTC register a marginal increase, rising by 0.28% and moving to $155.45, with the 20-day SMA acting as resistance at this level.

Image: LTC/USD daily

LTC/USD daily chart 122821

After registering a marginal increase on Wednesday, the Litecoin price pushed up significantly on Thursday, going past the 20-day SMA and settling at $163.69 after rising by over 5%. On Friday, the price fell back in the red, dropping to $161.24. The weekend saw LTC remain in the red, dropping by over 2% on Saturday and then by 1.35% on Sunday to end the weekend at $155.79. The current session has seen a recovery, as buyers look to push LTC to $160.

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

Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $151.22. At this price level, over 284,000 addresses have bought more than 5 million LTC.

Image: IntoTheBlock

LTC/USD volume chart 122821

The 4-hour Litecoin price chart shows us that LTC had pushed above the 20 and 50-bar SMAs on the 21st, rising to $152.72. The price continued to push higher from this level, rising to $157.78 on the 22nd, before turning bearish and dropping to $154.51. At this level, the 20bar SMA was acting as support, and LTC pushed up significantly, rising to $165.68 on the 24th. From this level, the price fell back, dropping to $161.03, then slipping below the 20 and 50-bar SMAs on the 26th, falling to $154.01. With the 50-bar SMA now acting as resistance, LTC could push up to $155.84 before moving to its current level of $157.

We can see that the Parabolic SAR and MACD are both bearish, indicating that we could see the price drop further.

Image: LTC/USD 4-hour

LTC/USD 4-hour chart 122821

Litecoin Price Is Expected To Reach These Levels

Looking at the Litecoin price chart, we can see that LTC has pushed up significantly during the ongoing session. If the current sentiment persists, we could see LTC push towards $160.