The post Litecoin Price Stalls Below $116, Can the Bulls Regain Control? appeared first on Coinpedia Fintech News
Litecoin price has had a choppy week, losing 2.03% in the last 24 hours and 3.23% over the past seven days. The coin is now priced across exchanges at $114.92, with a market cap of $8.77 billion. Talking more about numbers, the daily trading volume has plunged nearly 28% to $487.27 million. Despite a brief attempt to push higher, Litecoin was rejected at the $116.1 level, leaving the bulls struggling to hold momentum.
The catalysts behind the price drop included delays in ETF approval, which have dampened investor confidence. Adding to the cautious mood, the Crypto Fear & Greed Index sits at a neutral 48, showing traders are hesitant to take aggressive altcoin positions.
Litecoin Price Analysis
Litecoin’s latest price rejection at $116.1, which coincides with the 7-day SMA, has shifted sentiment toward the bearish side. Currently trading under the pivot point of $115.68, LTC price risks more downside if it fails to reclaim this level. The $113.61 zone, lining up with the 61.8% Fibonacci retracement, is acting as the immediate support. A decisive breakdown below $113 would likely pave the way toward $110, a crucial psychological floor.
The RSI is neutral at 47.7, suggesting the market isn’t leaning heavily toward either buyers or sellers. However, MACD divergence hints at weakening bullish pressure, signaling that the recent rally may be running out of steam.
For now, Litecoin’s short-term outlook hinges on whether it can close above $116.1. Such a move would invalidate the current bearish setup and reopen the path toward the $120.5 resistance zone. On the flip side, failure to hold $113 support could trigger fresh selling and push the price closer to $110.
FAQs
Litecoin slipped after being rejected at $116, combined with ETF approval delays and cautious market sentiment.
Support is seen at $113.61 and $110, while resistance sits at $116.1 and $120.5.
Not yet. Momentum is neutral, and bulls need a close above $116.1 to regain control.
