LTC News: Litecoin’s Future Hinges on Crucial $136 Breakout Amid Market Volatility

Litecoin’s Fate Hinges on $136 Breakout

Litecoin dropped 6.06% in a day and 11% over the week, pushing its market cap to $9 billion. The price peaked at $131.95 but failed to hold above the 50% Fibonacci level at $129.38. A bullish reversal needs a $136 breakout, while downside risks remain at $111 and $98 support levels. The cryptocurrency market is under heavy selling pressure as Bitcoin crosses the $80,000 mark. Litecoin, which briefly showed signs of recovery, has been unable to hold its momentum.

Litecoin’s Short Squeeze and Market Volatility Analysis

Litecoin (LTC) recently saw a short-term rally, outperforming Bitcoin (BTC) in a volatile market. This boost was largely due to the liquidation of bearish positions, fueling Optimism among traders. However, with LTC now testing critical support levels, analysts are urging caution as the cryptocurrency faces ongoing market fluctuations. In the past 24 hours, Litecoin’s price has dropped by 5.54%, trading at $119.74 after reaching a high of $127.30. Despite this pullback, LTC had outperformed Bitcoin in the short term, with the liquidation of short positions contributing to the temporary rally. This price surge was followed by a retracement, highlighting the volatile nature of the market. Analysts remain cautious about LTC’s future prospects.

Best Crypto To Invest Right Now: The Best Altcoins to Watch as Bitcoin Consolidates

While Bitcoin (BTC) has struggled to maintain its momentum, certain altcoins are holding strong, signaling a potential breakout. Popular analyst Credible Crypto believes Litecoin (LTC) and XRP could become key players in the next market rally. Both tokens have maintained their support levels despite Bitcoin’s price dip below $80K. Ethereum (ETH) remains stagnant at $2.1K but could surprise investors if momentum shifts in its favor.