Litecoin ($LTC ) is currently experiencing a mild downtrend, with a price change of -1.558% over the past 24 hours.
The price oscillated between a high of 85.89 and a low of 82.49, demonstrating significant volatility.
With the upper Bollinger Band at 85.66 and the lower at 83.53, LTC is trading within this range, hinting at potential consolidation.
Key support is at 83.02, while resistance is near 85.68.
Macroeconomic factors, including ongoing regulatory scrutiny, continue to weigh on market sentiment.
Bitcoin's influence appears minimal at this time, suggesting LTC could be trading independently.
Given the overall downtrend and recent volatility, traders may benefit from a short-term approach.
Key takeaway: Litecoins are subject to regulatory headwinds and market indecision, making quick strategic moves prudent.
