Key Insights:
- Litecoin price consolidates below $109.6 resistance, with $112 as the key breakout level to watch.
- RSI stays in a downtrend, showing weak momentum despite strong support holding in wedge formation.
- Traders eye LTC and lower time frames for early signs of breakout or rejection near resistance.
Litecoin (LTC) was trading at $105.52, with a 24-hour volume of $486.9 million. The price has seen a modest decline of 1% in the past 24 hours and 1% over the past week. While the broader trend remains in place, current movement suggests the market is waiting for a clear direction.
The price structure is still respecting a falling wedge pattern. This formation has been held since the last rally attempt and continues to act as a guide for traders. So far, no breakout has occurred. The next major resistance stands near $112, a level that has capped upward moves several times in recent weeks.
Momentum Indicators Suggest Market is Cautious
The RSI continues to drift lower, pointing to soft momentum on the daily chart. This reflects cautious behavior among buyers, even as the wedge formation stays valid.
Analyst IhsanAgaz mentioned,
“RSI is still in a downtrend (weak momentum).”
Without a shift in momentum or a clear bullish signal, traders are holding off on aggressive positions. The lack of divergence means the current trend has not reversed. Until momentum improves, attempts to clear overhead resistance may continue to stall.
Resistance Remains Active Below $110
Short-term charts confirm that sellers remain active near the $109.6 area. This zone has created a firm wall, stopping price moves before they can challenge $112.
CW commented,
“The sell wall for $LTC exists until $109.6.”
Price is consolidating just below this range. If it fails to break higher, focus could shift back to support zones around $104–106 and $100–102. These levels have recently drawn buying interest and could limit downside if resistance holds.
Traders Focus on BTC Pair and Lower Time Frames
The LTCBTC pair continues to show limited strength. This has made it harder for LTC to build sustained upward momentum. According to CRYPTOWZRD, a move higher in the LTCBTC ratio is needed to confirm broader upside potential.
Lower time frames are being used to track short-term signals.
As CRYPTOWZRD noted,
“My focus will be on the lower-time frame.”
A clean breakout and retest above $112 would likely bring stronger participation from buyers, but until then, the market remains in a neutral posture.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |