according to the website - By Coincu
Litecoin (LTC) closed with a slight decline on the daily timeframe, but most of the drop was quickly recovered. The asset continues to hold above its previous resistance level, which now acts as support.
According to CRYPTOWZRD, - "$LTC closed with a slight decline. However, most of the drop was very quickly recovered. Tomorrow I will be paying closer attention to the intraday chart for a scalping opportunity."
The main daily support level is at $112, and growth targets are near $140 if momentum resumes. Despite the indecisiveness of the daily candle, buyers held critical levels after recent volatility caused by sharp fluctuations in Bitcoin, which prevented deeper losses in Litecoin.
On the intraday chart, Litecoin is trading near $120.60, which is considered a short-term support zone. Market dynamics have been unstable, partly due to the shift from Bitcoin to Ethereum. A breakout above $123.00 could pave the way to $126.00 and higher. If the asset remains below this level, the price may consolidate in a sideways trend.
Traders are watching the intraday chart for scalping opportunities as short-term levels continue to provide clearer signals. Holding the price above the daily support of $112 and recovering the intraday support at $123 could create conditions for a resumption of momentum in the near term.
Aleex Minimal shared a swing trading idea focused on the support zone of $106–$108. This area is marked as a key demand zone for potential entries. A retest of this zone combined with EMA cluster support around $115 could provide buyers with a foundation for a new rally.
Mimal noted that divergence indicators suggest a potential bullish divergence, increasing the likelihood of a bounce if this zone holds. Price growth could be aimed at $124–$140, while losing this support would shift focus to the area of $102 or lower.
At the time of publication, the price of Litecoin was $113.85, with a daily trading volume of $807 million. The token's value has decreased by 5% over the last 24 hours and by 3% over the past week.
The RSI (14) is at 46.84, which is below the moving average of 54.66, indicating a shift in momentum from bearish to neutral. BBTrend is at 15.00, remaining positive but below previous levels, suggesting a weakening of bullish pressure. Overall, Litecoin is consolidating, with the support level of $110–$112 remaining critically important for short-term movements.
