Litecoin Faces Bearish Pressure on Binance as Key Support Looms
Litecoin (LTC) experienced a notable decline of 4.21%, dropping to $105.25 amid prevailing bearish momentum in the cryptocurrency market. This downturn appears to be driven more by broader market uncertainty rather than any Litecoin-specific catalysts, with technical factors playing a significant role in the price action. Despite the pullback, the crucial support level at $91.20 remains untested, leaving room for potential further declines if bearish pressure persists. Trading activity on Binance remained robust, with volumes reaching $81.24 million, indicating active participation even as prices dipped below key moving averages. The Relative Strength Index (RSI) stands at 51.36, suggesting a neutral momentum that could swing either way depending on market sentiment. As of August 7, 2025, traders are closely watching whether Litecoin can hold above critical support levels or if further downside is imminent in this volatile crypto environment.
Litecoin Tests Key Support Amid Bearish Pressure
Litecoin's price slid 4.21% to $105.25 as bearish momentum dominated trading. The decline reflects broader crypto market uncertainty rather than LTC-specific catalysts, with technical factors driving the action.
Key support at $91.20 remains untested despite the pullback. Trading volume on Binance reached $81.24 million, signaling active participation even as prices dipped below critical moving averages.
The RSI reading of 51.36 suggests neutral conditions despite the price drop, leaving room for potential reversals if bulls can regain control. Market participants now watch whether Litecoin can hold above the psychologically important $100 level.
Stellar (XLM) Tests Key Support at $0.39 Amid Market Correction
Stellar's XLM token retreated 6.9% to $0.39 as traders locked in profits following July's parabolic 75% rally. The pullback reflects typical market consolidation after such aggressive upward moves, with technical indicators showing neutral momentum (RSI: 48.71).
Binance spot markets recorded $56.15 million in XLM volume during the correction, demonstrating continued liquidity. The Protocol 23 upgrade maintains fundamental support despite short-term volatility, suggesting this dip may represent healthy price discovery rather than trend reversal.
APT Price Drops 5.47% as Aptos Tests Critical Support Near $4.19
Aptos (APT) fell 5.47% to $4.32, approaching oversold conditions with its RSI at 35.63. The decline reflects broader market sentiment rather than specific catalysts, as trading volume on Binance spot markets reached $43.67 million.
Technical indicators suggest potential stabilization NEAR key support levels. The absence of major news shifts focus to price action dynamics, with APT testing its recent range after retreating from a daily high of $4.58.
Bitcoin Holds Steady Above $115K Amid $600M Liquidation Storm
Bitcoin demonstrated remarkable resilience as the cryptocurrency market endured a violent shakeout, with leveraged traders suffering $630 million in liquidations. While altcoins like DOGE, SOL, and XRP plunged 6%, BTC stabilized above $115,200 - reinforcing its status as the market's bedrock during turbulence.
The liquidation cascade predominantly wiped out bullish bets, with $580 million in long positions evaporating. A single $13.7 million ethereum trade on Binance exemplified the brutal efficiency of margin calls during such corrections. Such events typically exacerbate volatility as forced selling creates cascading price pressure.
Bitcoin's market dominance actually expanded during the sell-off, underscoring its role as crypto's flight-to-safety asset. The divergence between BTC's relative stability and altcoin weakness suggests investors are rotating into quality during periods of stress - a pattern reminiscent of traditional market behavior during risk-off episodes.
Toncoin Holds Key Support Amid Mixed Technical Signals
Toncoin (TON) demonstrates resilience at the $3.52 support level despite a 0.93% daily decline, as technical indicators present conflicting narratives. The Relative Strength Index at 66.18 suggests neutral momentum, while MACD's bullish divergence hints at underlying strength.
Binance spot markets recorded $79.3 million in volume, reflecting sustained trader interest during this consolidation phase. With no fundamental catalysts driving recent price action, TON's movement appears tethered to broader market sentiment and technical dynamics.
The MACD histogram's 0.0245 reading emerges as the most compelling bullish signal, potentially foreshadowing upward momentum despite short-term price weakness. Market participants await clearer directional signals before establishing larger positions in the asset.
Why Binance Traders Are Extremely Bearish On Bitcoin? Details.
Bitcoin traders on Binance exhibited pronounced bearish sentiment as July concluded, with net taker volume plunging into negative territory. The shift coincided with mounting uncertainty ahead of the U.S. Federal Reserve's July 30 meeting, exacerbated by fresh labor data. Analysts interpret the $80 million net taker deficit as a sign of aggressive selling or short positioning, primarily among retail traders reacting to macroeconomic jitters.
CryptoQuant's Amr Taha highlighted red clusters in the July 25-29 selloff data, noting these typically reflect panic selling during market stress. The bearish positioning emerges as traders brace for potential Fed policy shifts and key economic indicators. While August's outlook remains divided, the derivatives activity suggests growing risk aversion in crypto markets.
