Monthly candles since mid-2022 have maintained higher lows, which indicate continued buildup. Such a structure tends to precede expansion phases. At the same time, Litecoin’s long-term lateral structure implies a breakout opportunity.
Litecoin is trading at $108 currently, down 2.72% in a span of 24 hours and down 6.60% in a week’s time, as per CoinGecko. Traders appear hesitant, expecting confirmation below levels of resistance before committing more funds. Such hesitance belies underlying anxieties about ongoing volatility and near-term bearish strains.
The recent decline is primarily technically motivated rather than new large fundamentals. Range trade has fluctuated between $107.24 and $111.90, indicative of mixed momentum. A $5.80 daily ATR sustains broad intraday volatility, extending technical attention characterizing present investors’ decisions and positions.
Litecoin technical analysis: weakness, but watching support
The technical indicators remain mixed. The RSI is at 42.87, which shows neutral momentum but a bearish bias. MACD continues to be negative at 1.4822 and is indicative of dwindling buying power. Both suggest a persistent weakness while still enabling fast recoveries should supportive levels hold firm.
Litecoin is trading below both its 7-day SMA at $111.07 and 20-day SMA at $116.18 but still above its 200-day SMA at $98.25, keeping the overall bullish scenario intact. It’s a vital long-term trigger against further breakdowns.
Momentum oscillators add a dimension. Stochastic indicators, with %K at 10.35 and %D at 15.13, mark oversold levels. Spot-term traders say this is a signal for a likely rebound and watch charts closely for reversal signs and adjust positions accordingly around immediate support.
Litecoin price levels: Critical ranges to watch
Close support is $108.57. A break below this risks uncovering losses to $91.20. Resistance at $134.19 corresponds to the 52-week high of $137.04 on the higher side. A move back above the intermediate $116.18 level, about the 20-day SMA, remains necessary in recouping near-term bullish optimism.
Aside from shorter-term reversals, Litecoin continues to consolidate below $130 for 1,249 days, considered long-term accumulation. Pundits cite targets between $134 and $300 upon breakout confirmation. Such an accumulation area is a sign of wider bullishness for continued upside once momentum decisively turns above solidly fixed resistance levels.
