Litecoin (LTC) Struggles Below $70 as Market Cap Drops 14%
- Litecoin (LTC) trades at $67.02 after a sharp 15.13% daily drop.
- The market cap declined 14.55% to $5.06 billion.
Litecoin (LTC) is trading at $67.02 after dropping 15.13% in the last 24 hours. Its market capitalization now stands at $5.06 billion, reflecting a 14.55% decline. Despite this downturn, the daily trading volume surged by 301.99% to reach $1.13 billion. The volume-to-market-cap ratio currently sits at 22.27%, suggesting heightened short-term volatility and increased trader activity.
The total supply and maximum supply remain capped at 84 million LTC, with 75.55 million already in circulation. This full-cap structure keeps inflation controlled but does not shield LTC from market-wide corrections. Nevertheless, Litecoin briefly recovered to $69.50, showing a temporary bullish reaction after touching intraday lows.
Is Litecoin Gearing Up for a Reversal?
Technically, Litecoin finds immediate resistance near $72. A confirmed close above this threshold could open the way to $76, where previous consolidation occurred. However, failure to hold above $66 may send prices sliding toward $62. If this level breaks, a steeper decline toward $58 appears likely, aligned with the recent selling pressure.
The Relative Strength Index (RSI) rests at 31.31, barely above the oversold threshold. Its 14-period average stands at 33.11, showing that momentum remains weak but may stabilize if buyers step in. RSI’s slight upward curvature hints at the possibility of a short-term bounce, although sustained confirmation is lacking.
The Chaikin Money Flow (CMF) sits at -0.19, signaling persistent capital outflows from LTC markets. A negative CMF this deep reflects a risk-off sentiment and limited institutional support during recent sessions. Until CMF returns above zero, accumulation remains unlikely.
Litecoin trades under severe pressure but shows signs of short-lived support. High-volume spikes suggest capitulation rather than confidence. Both RSI and CMF indicate oversold conditions but not yet a trend reversal. Market participants may observe the $66–$72 range for clues.
Highlighted Crypto News Today
SHIB Drops 7%: Is This the Start of a Bigger Correction?
Read More
SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens
Pi Network’s KYC System Under Fire as Users Complain About Delays and Difficulties
Litecoin (LTC) Struggles Below $70 as Market Cap Drops 14%
- Litecoin (LTC) trades at $67.02 after a sharp 15.13% daily drop.
- The market cap declined 14.55% to $5.06 billion.
Litecoin (LTC) is trading at $67.02 after dropping 15.13% in the last 24 hours. Its market capitalization now stands at $5.06 billion, reflecting a 14.55% decline. Despite this downturn, the daily trading volume surged by 301.99% to reach $1.13 billion. The volume-to-market-cap ratio currently sits at 22.27%, suggesting heightened short-term volatility and increased trader activity.
The total supply and maximum supply remain capped at 84 million LTC, with 75.55 million already in circulation. This full-cap structure keeps inflation controlled but does not shield LTC from market-wide corrections. Nevertheless, Litecoin briefly recovered to $69.50, showing a temporary bullish reaction after touching intraday lows.
Is Litecoin Gearing Up for a Reversal?
Technically, Litecoin finds immediate resistance near $72. A confirmed close above this threshold could open the way to $76, where previous consolidation occurred. However, failure to hold above $66 may send prices sliding toward $62. If this level breaks, a steeper decline toward $58 appears likely, aligned with the recent selling pressure.
The Relative Strength Index (RSI) rests at 31.31, barely above the oversold threshold. Its 14-period average stands at 33.11, showing that momentum remains weak but may stabilize if buyers step in. RSI’s slight upward curvature hints at the possibility of a short-term bounce, although sustained confirmation is lacking.
The Chaikin Money Flow (CMF) sits at -0.19, signaling persistent capital outflows from LTC markets. A negative CMF this deep reflects a risk-off sentiment and limited institutional support during recent sessions. Until CMF returns above zero, accumulation remains unlikely.
Litecoin trades under severe pressure but shows signs of short-lived support. High-volume spikes suggest capitulation rather than confidence. Both RSI and CMF indicate oversold conditions but not yet a trend reversal. Market participants may observe the $66–$72 range for clues.
Highlighted Crypto News Today
SHIB Drops 7%: Is This the Start of a Bigger Correction?
Read More
SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens