Litecoin is down 5.21% over the past day, now trading at $88.51. Looking at the technical patterns, it seems like the LTC price might fall even more. Veteran analyst Ali has highlighted concerns regarding Litecoin’s recent breakdown on X, indicating that failure to reclaim lost support levels could trigger a move toward $70.
Litecoin’s price has followed a downward trajectory after peaking above $137 earlier in the observed period. The asset showed considerable volatility, oscillating between resistance levels before losing support. The breakdown below $108 was followed by an accelerated drop, bringing the price close to $92.795 before dipping further.
Support levels that previously offered stability are now under pressure. The $97 mark, which acted as a floor, has turned into resistance. Meanwhile, LTC’s price is hovering near the $89 support zone. If selling pressure persists and this level fails to hold, technical indicators suggest a potential move toward $70.
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Expert Analysis and Litecoin Bearish Outlook
Ali’s analysis points to Litecoin exiting a critical trading range, which could set the stage for a deeper correction. His tweet, “#Litecoin $LTC breaks loose! Exiting this channel sets up a price move to $70,” aligns with the technical outlook, indicating that unless the price reclaims previous support, a further downturn is possible.
Resistance at $97 remains a crucial level to watch. If LTC’s price fails to break above this point, downward momentum may continue. The next support sits at $89, but breaching it could accelerate the decline. Given the market conditions, traders are monitoring whether Litecoin’s pricr can recover or if the bearish trend will persist.
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LTC Market Sentiment and Future Price Direction
Litecoin’s performance is being closely observed by traders and analysts. The recent dip and loss of support have raised concerns, especially as the broader crypto market remains uncertain. While short-term volatility is expected, a decisive move above $97 could change the outlook. Conversely, failure to hold current levels may validate projections of a drop toward $70.
Market participants will be watching key resistance and support zones in the coming days to gauge Litecoin’s price next move. Whether the asset can regain momentum or continue its downward trajectory remains to be seen.
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