Litecoin is now hovering around $77.7, the problem is that it has fallen below the 25-day moving average ($78) and the 99-day moving average ($81) — this trend is clearly not very good. The short-term 7-day line is just touching the current price, indicating a slight rebound since the big dump from $74.66, but the strength is quite average.

Looking up, 78-79 is the first hurdle (25-day line pressure), to really turn things around, it must stabilize at 81-82 (99-day line), only then can the 86-88 area have a chance. Looking down, 74.6 is the recent low point defense line, if it can't hold, 70-71 basically can't be avoided.

The trading volume is quite interesting: it clearly increased during the sell-off, but now it has shrunk again—selling pressure has eased, but buyers need to show some real skills to reclaim the moving averages to turn the situation around. Overall? Before recovering those moving averages, maintaining a neutral to bearish judgment is more prudent.

LTC2.91%

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JustAnotherWallet

· 12-02 06:55

The volume has shrunk, that's the real problem. A rebound without anyone catching a falling knife is all fake.

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SocialAnxietyStaker

· 12-02 06:47

It's broken the moving average again, it seems that LTC really lacks momentum this time. Where have all the buyers gone? Just looking at the trading volume shows they're not focused. If this position can't hold, it'll head straight for 70, and then it's really gg. 78-79 is a hurdle, but I think it's unlikely... the probability of falling seems greater. The moving averages are pressing down from above, wanting to turn around in the short term? Too difficult.

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GhostAddressMiner

· 12-02 06:41

Looking at the way this trading volume is shrinking, buyers really have no strength... If 74.6 can't be held, we'll have to see when those dormant Wallets wake up.

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MultiSigFailMaster

· 12-02 06:38

77.7 is indeed a tough spot, both moving averages have broken and the strength is also average, it feels like there isn't a bottom yet.

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BearWhisperGod