Litecoin (LTC) Price Analysis: Bulls Found Solid Ground, But Bears Are Not Giving Up Yet

Following yesterday's crash, LTC found solid ground, recovered well and closed well with a long-wicked rejection. This suggested selling exhaustion, but the bears are not giving up yet.

LTC discovered solid ground following yesterday's crash, recovering well and closing with a long-wicked rejection, indicating selling exhaustion. However, the bears remain persistent.

After losing momentum in December 2024, LTC's price remained weak during retracement. The bulls attempted to push back in the mid-month but failed to sustain pressure above $141. They reattempted the $135 level towards the end of the month but were unsuccessful.

These rejections culminated in a significant meltdown over the past few days, leading to yesterday's asset collapse. Several key levels were breached as the price dropped to a multi-month low of $80. This low level provided support, and the price recovered substantially, closing above the $100 mark.

The bears are not relenting despite this level holding. A drop from this mark level would quickly trigger a massive short-term breakdown.

Considering the earlier daily wick rejection, which suggests an exhaustion in the latest selling, LTC could regain momentum at any moment. Conversely, it may retest the recent low before rising back.

However, the coin has posted a 12% gain today, but the bulls are yet to fully recover from the heavy loss. A push above $147 should bring a complete market recovery before rallying hard.

LTC's Key Level To Watch Source: Tradingview

Losing the $100 mark level again could slide us back to $92.6 and $87. If the bulls fail to defend these levels well, the next level for support would be $80 and perhaps $70 shortly.

The bulls have yet to show commitment since yesterday's interception. If they do, the potential resistance for an increase would be $106.3 and $117.3. A push above these resistance levels should propel buying to $135.3 and potentially $147 in the near term.

Key Resistance Levels: $106.3, $117.3, $135.3

Key Support Levels: $92.6, $87, $80

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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