Litecoin (LTC) has experienced a 5.6% decline in the past 24 hours, bringing its market capitalization to approximately $6.3 billion as selling pressure mounts. This significant drop has pushed key technical indicators into bearish territory, with momentum metrics deteriorating rapidly. The Relative Strength Index (RSI) has fallen sharply to 35.92 from 61.4, indicating a swift change in market momentum. While the RSI is not yet in oversold territory, it is dangerously close, suggesting weakening bullish momentum. The Ichimoku Cloud chart also reflects a bearish trend, with price action below the red cloud, indicating continued downward momentum. Currently, LTC is near a crucial support level at $83.11, and if this support fails, it could drop to $81.30. However, a recovery is possible if LTC can reclaim higher levels and retest resistance at $89.31. The market remains at a pivotal point, with both risks and opportunities centered around the $83.11 support zone. Read more AI-generated news on: https://app.chaingpt.org/news