Litecoin Holds $112 Support, Bears Eye $106 Downside
Litecoin price pulled back from a recent high of $133 to a low of $114 and is now trading between its 21-day and 50-day simple moving averages. The coin remains above the critical $112 support level but faces bearish pressure as it trades below the 21-day SMA. A drop below the 50-day SMA could push Litecoin toward $106, with resistance at $120 and $140 and support at $60, $40 and $20. On the 4-hour chart, price bars under both moving averages signal continued downside momentum. Traders are watching the $112 level for the next directional cue. A rebound above the moving averages could trigger a reversal, while a breach of $112 may extend the downtrend.
Bearish
The news highlights that Litecoin is trading below its 21-day SMA and testing critical support at $112. Technical analysis shows increasing bearish momentum, with price bars under both the 21-day and 50-day moving averages on the 4-hour chart. A breakdown below $112 and the 50-day SMA would likely accelerate selling pressure toward $106, reinforcing a short-term bearish outlook. In the longer term, continued failure to reclaim the 21-day SMA resistance could undermine market confidence, keeping Litecoin in a downtrend until key moving averages are retested and broken to the upside. Traders should monitor these levels for potential reversal signals or further declines.