Litecoin Tests Key Support Near $105 as Technical Indicators Signal Neutral Momentum

Market Overview

Litecoin is currently trading at $105.64 at $105.64, down 0.33% over the last 24 hours, within the relatively tight range of $103.84 to $107.61. Cryptocurrency faces immediate resistance at a pivot level of $105.70, with trading volumes reaching $27.7 million. The LTC maintains position above the critical 200-day moving average of over $97.92, providing technical support despite short-term bearish pressures.

Technical photos

Technical situation LTC We present a mixed outlook with conflicting signals across different time frames. The 41.0 RSI read shows a neutral momentum that is not sold or over-buyed, suggesting that the market lacks strong directional beliefs. However, the MACD histogram of -0.3694 shows bearish divergence and indicates potential pressures of downward pressure in the short term.

Most of the Bulls are in LTC positions compared to their short-term moving averages. Cryptocurrency is trading at $110.65, under 4.5% over the 20-day SMA, 6.8% below the 50-day SMA, at $113.39. This configuration usually suggests weakening the momentum and potential continuity of the current downtrend. That fact LTC Price It remains above the 200-day moving average by 7.9%, providing long-term structural support, but may not be sufficient to prevent further declines.

Important levels to see

Surrounding Instant Support Zones $100.25 In the short term, it represents the most important level for Litecoin. A break below this threshold could accelerate sales pressure and target a 200-day moving average of $97.92. Conversely, regaining the $110.65 level could indicate a potential change in momentum, leading to a test of $120.83 resistance.

$120.83 resistance The levels coincide with previous integration areas and represent the first major hurdle of meaningful recovery attempts. A critical break beyond this level could pave the way for $134.19, where stronger resistance is expected based on historic price action.

For day traders, the current pivot level of $105.70 serves as an immediate reference point; LTC/USDT If this level cannot be regained in a compelling state, you may face continuous pressure.

Market sentiment

The lack of recent important news events is litecoin’s Current price action is driven primarily by technical factors and sentiment in the broader cryptocurrency market. A relatively modest trading volume of $27.7 million indicates limited institutional profits at current levels, and could contribute to increased volatility as the market searches for directions.

Neutral RSI readings suggest that neither buyers nor sellers have established clear controls, creating an environment in which technology levels become increasingly important to determine short-term orientations.

Trading perspective

The current setup provides a challenging environment for traders with limited convictions in either direction. Conservative traders may prefer to wait for a clear break above $100.25, above $110.65, before establishing a new position. The reward profile of risk supports patience as integration patterns may continue in several more sessions.

For those looking to take advantage of range-bound deals, the $103.84 to $107.61 range provides clear boundaries, but close stop losses are essential given the possibility of false breakouts. Long-term holders may view a decline to a 200-day moving average as an opportunity for accumulation, as long as the broader market conditions are still supportive.

Conclusion

litecoin Face a critical time of nearly $105. Failing beyond support above $100.25 could trigger a 200-day moving average test, but recalling $110.65 shows a potential recovery towards a $120.83 resistance.

Monitor the above key support and resistance levels for the latest LTC pricing updates and Litecoin analysis.

Image source: ShutterStock