• Litecoin faces selling pressure after breaching key technical support, signaling potential short-term market weakness.
• Decline in Bitcoin value significantly impacts Litecoin, contributing to ongoing market volatility and uncertainty.
• The critical demand zone between $90–$92 could prompt a potential rebound if buyers step in actively.

Litecoin (LTC) is showing signs of weakness as it is under selling pressure after breaching a critical level of technical support. Analysts have indicated that this decline is largely contributed to by the drop in the value of Bitcoin. However, attention is currently focused on a critical demand zone where a possible rally may occur if buyers emerge.

At the time of writing, Litecoin is trading at $96.72, with a 24-hour trading volume of $3.13 billion and a market capitalization of $7.37 billion. LTC price decreased by 3.08% in the last 24 hours.

Litecoin Drops Amid Market Volatility

A well-known crypto analyst, CRYPTOWZRD, pointed out that the market remains highly volatile, with Litecoin losing some of its earlier gains due to Bitcoin’s decline. The expert will shift attention to shorter time frames in the coming sessions to look for quick trading opportunities.

Litecoin Approaches Crucial Support Zone

Meanwhile, another market analyst, CryptoPulse, noted that Litecoin has breached its rising channel and that this could indicate a shift in market trend. Currently, it is targeting a critical demand zone ranging between $90 and $92. The zone is imperative in determining a future market trend for this coin.

“If buyers defend this level, we might see Litecoin bounce back toward the $100+ range,” CryptoPulse explained. “However, if the price continues to fall, the next key support is likely around $83 to $85.”

Market participants are closely monitoring how Litecoin will perform in and around this area. Successfully holding off a possible break may trigger a new round of buying activity in this digital currency.

As long as market action is still tied to movements in Bitcoin, a critical few days are to come for LTC that could provide a buy-the-dip opportunity.

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Community Turns Strongly Bullish

The latest sentiment data shows 82% of voters are bullish, highlighting strong confidence in the market’s direction. The majority suggests investors expect value to continue rising. The overall tone reflects optimism and growing momentum among investors.

On the other hand, only 18% remain bearish, showing minimal fear or doubt in current conditions. This imbalance indicates that bearish sentiment is losing influence. The community clearly leans toward a positive and hopeful outlook for the near future.

Also Read | Litecoin (LTC) Eyes $102 Resistance as Bitcoin Sets Market Direction