Litecoin just gained attention after a volatile week with traders speculating about its next move. I watched the price of LTC plummet, only to find its footing around the all-important $85 mark. Sentiment wavered, but an interesting rebound ensued. Bulls and bears are currently facing a key moment in which both technical signals and recent ETF flows will shape the narrative.
Interesting enough? Let us guide you through LTC’s current price story and what the charts suggest in the coming days.
Is LTC price construction fundamental?
Litecoin price was $87.10, up 1.11% on the day despite a tough week when it fell 11.09%. The market capitalization was $6.66 billion, and the 24-hour volume fell to $1.03 billion, down 5.01% as volatility eased slightly. Even with these fluctuations, the $85 level served as a solid pivot for bulls. As sellers pushed the price to a 24-hour low of $80.10, buyers intervened and the price rebounded towards a high of $88.82.
Looking at the 4-hour chart, you can see why so many short-term traders caught my attention. The RSI has broken out of oversold territory and is currently sitting around 35.92. This pullback, coupled with the MACD histogram reading of -0.26, suggests that the bearish momentum is losing momentum. Prices have rebounded from both the lower Bollinger Bands and long-standing horizontal support.
Volume analysis adds weight to this story. Spot transactions soared as the number of active LTC addresses increased, outpacing even rivals such as Zcash. Glassnode and exchange data confirm that retail participation is surging. Meanwhile, institutional investor appetite has returned as $855,000 in ETF inflows on November 3 gave confidence to the market.
What is my opinion? If the LTC price sustains above $85, a rally toward the $90.95 resistance and then $93.36 looks increasingly likely. If broader sentiment improves, aggressive bulls could target a return to $102.45. Conversely, if the price closes below $85, there will be fresh selling pressure and the $79.86 level could be retested soon.
FAQ
LTC price held at $85 as the RSI reached oversold, prompting short-term traders to intervene.
Some traders view the current technical rebound as a buying opportunity with limited downside risk if $85 holds.
Monitor the $85 support, RSI trend, and volume changes for clues as to the next direction for LTC.
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