Litecoin (LTCUSD) Market Overview

• • •

• Litecoin’s LTCUSD price action showed a bearish consolidation into early morning ET, with a 0.44% decline from 12:00 ET–1 to 12:00 ET today.
• Volatility increased during a sharp 113.0–114.19 swing, with 6.713 volume and 4.14 turnover at the 15:45 ET peak.
• No clear overbought or oversold RSI readings emerged, though momentum decelerated after 05:00 ET.
• Volume remained muted overall, with most 15-minute intervals recording zero turnover.
• The 113.0 level appears to be a short-term support, having held firm in multiple pullbacks.

Litecoin (LTCUSD) opened at $114.00 at 12:00 ET–1 and traded as high as $114.32 before closing at $113.48 at 12:00 ET today. The 24-hour range was $111.60 to $114.32. Total volume summed to 109.97 LTC, and notional turnover was $12,503.10. Price action showed a bearish bias into early morning, with consolidation near key support levels.

Structure & Formations

Price formed a key bearish candle at 00:30 ET with a high of $113.00 and a close at $112.00, indicating a rejection of the $113.00 level. A bearish engulfing pattern occurred at 19:15 ET with a $114.00 open and $113.00 close. Later, a bullish engulfing pattern at 04:45 ET (open $112.98, close $113.00) marked a potential short-term reversal. A doji formed at 01:15 ET (open $111.96, close $112.98), signaling indecision after a sharp rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged around $113.45–113.50, with the price bouncing between them. The 50-period MA acted as a temporary floor in the early hours. On the daily chart, the 50- and 100-period MAs were closely aligned at $113.00–113.20, with the 200-period MA at $112.70 acting as a long-term support reference.

MACD & RSI

The MACD turned negative after 05:00 ET, confirming a bearish trend, while the RSI dipped into neutral territory (40–50 range) throughout the session. A mild overbought condition was noted at 15:45 ET, but momentum quickly reversed as bears retook control. The RSI failed to exceed 60 for most of the session, indicating a lack of bullish conviction.

The Bollinger Bands widened as volatility increased during the 113.0–114.19 swing. Price remained within the bands for most of the session, bouncing off the lower band at $113.00 multiple times. A contraction was seen after 02:00 ET, signaling a potential breakout or consolidation phase. The 20-period Bollinger Bands were in a flat range during the final 6 hours, suggesting a consolidation phase ahead.

Volume & Turnover

Volume spiked to 6.713 LTC at 21:15 ET, confirming the $114.19 high. Another spike at 15:45 ET (4.14 turnover) marked a bearish reversal toward $112.59. Most of the 15-minute intervals recorded zero volume, suggesting weak participation. The price-volume divergence at 04:45 ET (bullish engulfing pattern on zero volume) was inconclusive, limiting the bullish signal.

Fibonacci Retracements

Applying Fibonacci to the recent 113.0–114.32 swing, key retracement levels were at $113.62 (38.2%) and $113.25 (61.8%). Price tested the 38.2% level at 05:15 ET and bounced off the 61.8% level at 04:45 ET. On the daily chart, retracement levels from a 111.60–114.32 move showed support at $113.00 (61.8%) and resistance at $113.70 (38.2%).

Backtest Hypothesis

A potential strategy could involve entering a short position at the 61.8% Fibonacci retracement level ($113.25) with a stop-loss above the 38.2% level ($113.62) and a target at the 113.00 support. This approach would align with the bearish momentum observed on the MACD and the failed overbought RSI readings. The strategy could be refined by incorporating a volume filter—only entering when volume exceeds 2.0 LTC, to reduce false signals from low-liquidity environments.