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- Litecoin is at $110 with a 2.97% daily dip and a 4.32% weekly decline; volume stands at $555M.
- Support holds at $100 with resistance at $120, upside targets stretch toward $155.
- Analysts say $100 support is vital, while a break above $120 could push the price to $140.
Litecoin (LTC) is currently trading at $110, which represents a 2.97% decrease over the past 24 hours. Trading volume has declined by 0.79% to $555.16 million. The coin is weak in terms of short-term performance, as it has declined 4.32% in the past week. Analysts add that Litecoin remains to be traded within a specific range, and the following step is crucial.
Source: CoinMarketCap
Crypto analyst BitMonty highlighted that in the recent past, Litecoin has rebounded off a heavy support area. The coin has now crashed back against mid-channel support. Nevertheless, the structure is bullish despite the decline. Should it continue, the price targets stand at $131.71, $142.68, and $155.75. Analysts see this structure as a potential initial step to another increase.
Source: X
LTC Consolidation Signals Decision Point Ahead
Additionally, another analyst, CoinCodeCap Trading, revealed that Litecoin experienced a failed breakout above the $120 mark. The refusal moved the coin towards a pushback. It is possible that a re-break above $120 will push the coin to $140, with a stop-loss at $112. A swing entry could involve a dip to the $100 support level, with the objective of rebounding to $120.
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The existing framework keeps Litecoin pinned down to between $100 and $120. Support is available at $100, with its depth reaching $85. The resistance is limited to $120 and is moving towards $140. Analysts emphasize that it is essential to defend the $100. Any drop below this could open the door to heavier selling, whereas a breakthrough at $120 could rebuild bullish expectations.
Source: X
RSI Highlights Neutral Outlook for Litecoin
The Relative Strength Index (RSI) will print in a neutral area, indicating stable market conditions. There was a bearish crossover 28 days ago, and the situation continues to weigh on the short-term momentum. According to analysts, the short-term outlook is neutral, the medium-term outlook is bullish, and the long-term outlook is optimistic.
Traders are not eager yet ready. Analysts observe an opportunity should Litecoin approach support for $100. According to market data, there is a period of stabilization, at which a price remains stable until buyers or sellers gain definite dominance.
Litecoin is stabilizing around $100-$120. Despite the lack of diversity, a growing momentum is evident. An effective hold over $100 keeps the bullish story alive. This could potentially lead to even greater heights if a confirmed breakout occurs above $120.
Also Read: Ex-PBOC Chief Warns Stablecoins Could Spark Financial Chaos in China
