LTC News: Litecoin Faces Critical Support Level Amid Market Volatility

Litecoin Faces Critical $116 Support

Litecoin (LTC) has seen a sharp surge followed by a downturn, finding support at $116.02. This level is crucial as it will determine LTC’s next major move. The price initially ROSE to $127.70, fueled by positive macroeconomic news, but then fell below the 38.2% Fibonacci retracement level at $120.48, triggering increased selling pressure.

Trump Tariff Tsunami Triggers $300 Billion Crypto Crash

Cryptocurrency markets collapsed on Monday, shedding an estimated $300 billion in value due to US President Donald Trump’s aggressive tariff announcements. The downturn mirrored traditional equities, with the Dow Jones Industrial Average dropping 1,100 points and the S&P500 losing $1.5 trillion in market capitalization. The overall global crypto market capitalization currently stands at $2.75 trillion, down 10.53% in the past 24 hours. The market reversal came after a brief surge on Sunday sparked by reports of a potential US strategic reserve for cryptocurrencies, but optimism evaporated following Trump’s press conference.

Are These Altcoins Next in Trump’s Crypto Reserves?

U.S. President Donald Trump’s latest announcement about adding select cryptocurrencies to the U.S. Crypto Strategic Reserves has sparked discussions. Bitcoin (BTC) and Ethereum (ETH) ETFs are already in place, with Solana (SOL), XRP, and Cardano (ADA) expected to follow. Attention has now shifted to other potential candidates, including Litecoin (LTC), Hedera (HBAR), Polkadot (DOT), Chainlink (LINK), Dogecoin (DOGE), Avalanche (AVAX), and Aptos (APT), according to a recent tweet by CryptoRank.