Litecoin (LTC) is priced at $95.29, showing a modest 0.55% gain over the past 24 hours. Despite this minor recovery, the broader market trend for Litecoin remains bearish
Litecoin (LTC) price displayed a modest 0.55% gain in the past 24 hours, trading at $95.29 at press time. Despite this minor recovery, the broader market trend for Litecoin remained bearish. Technical indicators on the 4-hour chart showed a lack of strong bullish momentum, despite some stabilization in seller pressure.
Litecoin Faced Key Resistance at $96.74 as Bears Remained in Control
On the 4-hour chart, Litecoin was seen consolidating between the 9-period Exponential Moving Average (EMA) at $95.22 and the 9-period Triple Exponential Moving Average (TEMA) at $94.40. This tight trading range highlighted the indecision in the market following recent price declines.
The Bollinger Bands were also showing signs of increased volatility, with LTC hovering near the lower band at $92.06. The middle band, acting as dynamic resistance, sat at $96.74, while the upper band was positioned at $101.41.
Momentum indicators offered little optimism for bulls. The Relative Strength Index (RSI) was currently at 45.25, which was below the neutral 50 mark, signaling that sellers are still in control. However, the RSI had begun to flatten, indicating potential stabilization.
The Moving Average Convergence Divergence (MACD) further confirmed the bearish outlook. The MACD line was at -1.233, while the signal line was at -1.078, with a negative histogram reading of -0.156. Although the histogram bars were shrinking, hinting at weakening selling pressure, there was no clear bullish crossover at this stage.
In terms of key levels, Litecoin faced immediate resistance at $96.74, which aligned with the 20-period Simple Moving Average and the middle Bollinger Band. A more significant resistance level lies at $101.41, where previous highs and the upper Bollinger Band converge.
On the downside, immediate support rests at $94.40, and a break below this level could open the door to retesting the critical support at $92.06.
Overall, Litecoin’s outlook remained neutral to bearish. The price must break above $97 with volume and momentum to signal a potential short-term trend reversal toward the $100–$101 region. Until such confirmation occurs, sideways consolidation or another leg lower appears more likely. Traders should monitor RSI behavior and MACD crossover signals for early signs of a shift in market sentiment.
