Litecoin Price Upsurge Cools Off – What’s Next After The $97.8 Drop?

Share This Post

Litecoin’s bullish momentum has cooled off, with the price sliding back to $97.8 after struggling to sustain its recent uptrend. The pullback comes amid increasing selling pressure, raising concerns about whether this is a temporary correction or the start of a deeper decline. While LTC previously showed strength, the inability to maintain higher levels suggests that market sentiment is shifting, leaving traders questioning the coin’s next move.

As the price approaches key support levels, traders are closely monitoring market signals to determine the next move. Will buyers step in to defend LTC and spark a rebound, or will bearish pressure push the price even lower?

Litecoin Drop To $97.8: What Triggered The Pullback?

Litecoin’s retreat to $97.8 comes after failing to sustain its recent uptrend, as increasing selling pressure drove the price lower. After an initial push higher, LTC encountered strong resistance at the $113 key level, preventing further gains and triggering a pullback. This resistance rejection prompted profit-taking among traders, as many opted to secure gains rather than hold through potential volatility.

Moreover, the decline in buying momentum played a crucial role in the price drop. As bullish enthusiasm faded, buyers struggled to maintain control, allowing sellers to take over. The weakening demand led to increased downward pressure, accelerating Litecoin’s descent toward the $97.8 support level.

Litecoin

Broader market uncertainty also contributed to the downturn. A combination of external factors, including macroeconomic conditions and Bitcoin’s price action, likely influenced traders’ risk appetite, leading to a cautious approach toward altcoins like LTC.

Technical indicators also experienced a drop below average, prompting a correction as traders reassessed their positions. If Litecoin fails to hold above $97.8, further downside could be expected. However, a possible recovery may be on the horizon if buyers step in at this level.

Potential Scenarios: Rebound Or Further Decline?

The Litecoin price movement around the $97.8 level will be crucial in determining its next direction. Two possible scenarios could unfold—a strong rebound if buyers regain control or a deeper decline if selling pressure persists.

In a bullish scenario where LTC manages to hold above $97.8, buyers could step in, driving the price toward immediate resistance levels. A successful rebound might push Litecoin back above $113, with the next target being $131.6. After this, bullish momentum may grow, paving the way for a rally to $146.

However, in a bearish scenario where Litecoin fails to hold above $97.8, the price could face additional downside pressure. Breaking below this key support hints at a decline toward $89.7 and $76.8, and even lower support zones, making it critical for bulls to defend key levels.

Litecoin

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves

The post Crypto News: Bank of Korea Rejects Bitcoin for Foreign Exchange Reserves appeared first on Coinpedia Fintech News The Bank of Korea (BOK) has firmly stated that it has “never

Coinbase’s Government Network Expands—145 US and 29 Global Entities Onboard

Coinbase is deepening ties with 145 US government entities as the nation accelerates bitcoin adoption, signaling unprecedented institutional demand and a seismic shift in crypto policy Coinbase

Ripple News Today: XRP Proposal Aims to Unlock $1.5 Trillion for Bitcoin Reserves

The post Ripple News Today: XRP Proposal Aims to Unlock $15 Trillion for Bitcoin Reserves appeared first on Coinpedia Fintech News After a long legal tug-of-war under Biden’s leadership, Ripple is

Peter Schiff: Bitcoin Could Crash Below $65K if Nasdaq Enters a Bear Market

Bitcoin faces a steep decline if the Nasdaq downturn deepens, warns Peter Schiff, predicting a wave of panic selling that could shake investor confidence and destabilize markets Peter Schiff Predicts

SEC vs Ripple: How Lawsuit Over XRP Could Wrap up in Days

A legal expert has outlined how the SEC’s lawsuit against Ripple over XRP could end within days, but a major hurdle—navigating the court’s injunction—may complicate the

Is The Bitcoin Cycle Peak In? Historical Halving Data Suggests Upside Potential Into Late 2025

Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors After weeks of heavy selling pressure, Bitcoin has entered