#LTC is currently experiencing a bearish trend. Over the past 24 hours, LTC has decreased by 2.8%, and the candlestick charts reflect a noticeable downward movement. As shown in the provided chart, LTC started the day around $89.00 but faced a sharp decline, dropping to $87.00 before a brief recovery to $88.50. However, the price has since fallen again to its current level of $86.62, indicating sustained selling pressure in the short term.

Technical indicators signal a cautious outlook for LTC, with several metrics pointing towards negative momentum. The Relative Strength Index (RSI) is likely trending towards the oversold territory, given the recent price drop, which could suggest a potential bounce but also reflects bearish sentiment. Stochastics and the Commodity Channel Index (CCI) may also indicate continued downward momentum, especially as the price struggles to hold above the $87.00 support level.

The moving averages present a mixed outlook—short-term averages strongly suggest selling due to the recent declines across the 7-day (-9.0%) and 14-day (-12.5%) periods, whereas long-term averages indicate buying, supported by the 2.3% yearly gain. Despite the long-term growth, the overall market sentiment currently leans towards a downtrend for Litecoin, driven by the recent volatility and bearish pressure.

If you liked it ☺️, support the project! 👍🏻 Like & Share! 📣 Comment your thoughts on $LTC 🗣️

🧙‍♂️ I’m GrayHoood, your daily oracle of crypto wisdom. 🔮 Follow me and stay tuned! 🤝🏻

DYOR! Stay curious! And keep investing wisely! 🦅✨