"Litecoin's Tight Range: Bulls or Bears in Control?"

Litecoin, the fifth-largest cryptocurrency by market capitalization, has been trading in a tight range recently, with investors and analysts debating whether the digital asset will experience a major rebound or further decline. The price of LTC has been volatile, surging to a key resistance level before facing a sharp selloff.

LTC reached $127.70, a crucial resistance level, before investors began taking profits, causing a downturn. The sharp selloff was amplified by the failure to sustain above the $120.48 (38.2% retracement level), leading to increased selling pressure. The $118.25 (50% retracement) acted as a brief support, but the rejection at $123.46 indicated that bears were still in control.

The recent decline in LTC aligned with bearish technical indicators. The EMA cross showed bearish momentum, with the price trading below the 9-day and 26-day exponential moving averages, signaling potential downside risk. The rejection at $123.46 reinforced short-term bearish sentiment, as bulls failed to sustain gains above the resistance level. The Fibonacci retracement levels suggested that $116.02 remained a critical support level. A breakdown could accelerate losses to $112.85, confirming a deeper pullback.

The chart's structure indicates a potential double-bottom formation, suggesting a possible trend reversal if bulls defend the $116 region. If a bounce occurs, LTC could reclaim $121.74, the last key moving average resistance. A sustained move below $116 would confirm extended bearish pressure. Conversely, if bulls regain control, LTC could push toward $127.70, with a breakout above that level leading to a test of $132.

The netflow data revealed significant outflows from exchanges, suggesting accumulation. The 24-hour change of -50.49K LTC indicated that traders were withdrawing large amounts, potentially reducing selling pressure. Over the last seven days, +9.16K LTC flowed into exchanges, signaling short-term selling interest. However, the 30-day net outflow of -68.96K LTC suggests broader accumulation.

When total netflow is near 0, market sentiment