Brothers, today Long Ge is here to analyze the latest trends of Litecoin (LTC).

From the current price and market conditions, LTC continues to show a fluctuating trend today, with prices oscillating in the range of $115.5 - $118, and the short-term is firmly suppressed by the resistance level at $120. If this resistance level cannot be broken, it is likely to dip to the support level at $111. Looking at the market background, the entire cryptocurrency market is currently in a correction phase, with Bitcoin dropping to $115,000, a daily decline of 2.2%, which has also dragged down the sentiment for mainstream coins, and LTC is following suit in its downward movement.

We must also be aware of the key signals from the technical analysis. In terms of resistance, the $120 level has been tested multiple times without breaking through. On the support side, $116.5 is today's low point, and if this level is lost, it could trigger a selling wave, dropping all the way to the $111 liquidity zone. From the indicators' analysis, the stochastic RSI is nearing the oversold area, which suggests a potential short-term rebound, but it needs to be accompanied by trading volume; the daily MACD momentum is also weakening, indicating a lack of upward momentum. If it breaks below $123, it may further accelerate the correction.

On-chain data shows that the proportion of small orders (<$1 million) has significantly increased recently, indicating that retail investors are quite active but lack the support of large institutional orders, making it challenging to break through the resistance level. Additionally, the futures open interest has decreased, with trading volume dropping by 22% in the past 24 hours, reflecting that short-term speculative funds are withdrawing, increasing the volatility risk in the market.

Long Ge's trading suggestion today is to go long if the price retraces to around $114.20 - $115.20, targeting the area of $118.35 - $120.23. However, I must remind everyone that the market is highly volatile and risky, so please be cautious when trading and set a good stop loss #LTC .