- Litecoin holds up amid market volatility, showing relative strength versus other altcoins.
- Key resistance at $112, with support near $96; intraday range signals cautious trading.
- A break above $101.50 may trigger a short-term rebound, while a drop below $91.50 risks further decline.
Litecoin (LTC) is showing strength through ongoing market volatility, holding up compared to numerous altcoins. Analysts explain that its short-term weakness reflects the influence of Bitcoin, holding price action in check. Upon Bitcoin’s dominance fading, Litecoin may pick up momentum and go after higher resistance targets.
At the time of writing, LTC is trading at $91.38, showing a 3.17% drop in the past 24 hours. The coin’s 24-hour trading volume stands at $1.98 billion, with a market capitalization of $7.02 billion, reflecting moderate market activity amid broader crypto volatility.
Litecoin Strengthens Amid Broad Market Selloff
Despite the pullback, some analysts expect Litecoin to perform better than other altcoins. Popular crypto analyst Kelly Kellam commented that “Litecoin’s finding strength in the flash crash, looking better than most in my opinion.” His opinion implies that LTC could be settling down while lots of other assets come under furious selling pressure.
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Litecoin Eyes Recovery as Bitcoin Weakens
Meanwhile, another analyst, CRYPTOWZRD, described that Litecoin’s latest weakness is primarily caused by Bitcoin’s general market flow. In his opinion, LTC’s daily candle closed bearishly after emulating Bitcoin’s pattern. It will take LTC’s order book and liquidity zone some time to recover from the recent market dump, leading to sideways action in the short term.
On the technical side, the LTCBTC pair settled in an indecisive manner, reflecting indecision in the investors. Experts opine that Litecoin’s big move could only occur once Bitcoin’s dominance begins to decline markedly.
A successful stay by LTC on the other side of the $96.00 figure could then target its next resistance around $112.00. But a slide below $96.00 could slide the value to the level of $80.00 support.
The intraday chart presents a small and jagged range, which refers to weak momentum at the moment. A break below $91.50 will confirm a bearish pattern and set up a potential fallback. A close above $101.50 could signal the early stages of a short-term rebound.
Analysts confirm at this point that Bitcoin still drives Litecoin’s direction. Until BTC finds stability and sentiment on the markets gets better, LTC will likely remain range-bound, waiting for clearer instructions before the next break.
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