Litecoin (LTC) Shows Signs of Resilience Despite Recent Price Declines, Currently Trading Around $105

Litecoin (LTC) is showing signs of resilience despite recent price declines, currently trading around $105. With bearish momentum fading on the MACD and a slight price

Litecoin (LTC) is showing signs of resilience despite recent price declines, currently trading around $105.31. While bearish momentum is slowly fading on the MACD and a slight price uptick is visible, technical indicators suggest that LTC could be setting up for a bullish reversal.

If buying pressure continues, LTC could first encounter resistance at $110, followed by a stronger barrier at $118, and an even stronger level at $124.17. However, if sellers re-emerge, immediate support lies at $100, with deeper cushions around $90 and $78.

What Went Wrong

LTC has dropped 24.10% from its 30-day high and 18.80% from its weekly peak. However, it’s showing some strength with an 11.94% gain from its lowest price in the same period. This suggests some recovery despite recent declines.

LTC/USD Key Levels

Litecoin (LTC) price is showing early signs of recovery as bearish momentum slowly decreases. The MACD's (12, 26, 9) (Relative Strength Index) histogram is gradually turning from red to green, indicating that sellers are losing strength. This aligns with the green candle on the daily chart and a 24-hour price increase of 0.79%.

As the MACD prepares for a potential bullish crossover, suggesting a shift in momentum, the Parabolic SAR is still above the price, implying that sellers still have a slight edge. However, with the MACD trending higher and the RSI remaining in the oversold territory, there's potential for a steeper move if buyers exert more pressure.

If LTC price manages to pierce through the 0.382 Fib level at $109, it could spark a stronger rally toward the 0.50 Fib at $118. A successful breakout above the 0.50 Fib could propel LTC to challenge the 0.618 Fib at $124.17, the final key resistance.

On the downside, if sellers return, LTC price could find support at the 23.62 Fib at $100, offering some cushion from further declines. Below that, the 38.2 Fib at $90 and the 50 Fib at $78.06 could provide deeper support levels.

LTC price movements (Credit: TradingView)

A Closer Look At LTC’s Technicals

The MACD is gradually decreasing its bearish momentum, aligning with the slight price uptick. This suggests a potential shift in balance from sellers to buyers. A complete MACD crossover could be the final confirmation of this shift, which could be crucial for LTC’s recovery.

The Parabolic SAR is still above the price, indicating that sellers are still in control. However, with the MACD turning and the price showing resilience, there’s a chance for the Parabolic SAR to flip below the price. This would be a bullish signal, suggesting a stronger recovery.

LTC price has been consolidating in a lower trading range, which could continue if buying pressure isn’t enough to overcome the remaining sellers. In this scenario, LTC price could ping off the support and resistance levels as it ranges between $78 and $124. However, if volume increases significantly and traders push LTC price higher, it could quickly slice through these key levels.

LTC’s Price Remains Low Despite Strong Fundamentals

Litecoin (LTC) is known for its speed, security, and reliability, making it a top choice for payments and institutional adoption. It’s also one of the most used blockchains, with consistently high transaction volume and a large community.

Despite these strengths, LTC price has been lagging behind other major cryptocurrencies in its recent recovery. This could be due to several factors, such as the broader crypto market’s slow pace out of the bear market or a lack of new bullish catalysts for LTC specifically.

However, LTC’s fundamentals remain strong, and its price action on lower timeframes shows some signs of recovery. If buying pressure increases and technical indicators turn more bullish, LTC could be poised for a more substantial recovery move in the coming weeks.

LTC/BTC Chart Shows Potential Stabilization After Recent Pullback

The LTC/BTC daily chart shows Litecoin (LTC) trading at 0.001220 BTC, up 2.18%, as it attempts to stabilize after a recent pullback from the 0.382 Fib level at 0.001449 BTC. The Parabolic SAR is still above the price, which indicates that sellers are still in control, and a potential reversal of this trend could emerge if momentum shifts more decisively in favor of buyers.

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LTC/BTC KEY LEVELS

Support levels: 0.00081