Litecoin Market Overview: Strong Bullish Momentum in 24-Hour Session

• Litecoin (LTC/USDT) rallied to a 24-hour high of $109.43, driven by strong volume in the final hours of the reporting window.
• The 15-minute chart shows a bullish engulfing pattern at the end of the session, signaling potential upward momentum.
• RSI approached overbought territory, while MACD remained positive, suggesting continued accumulation pressure.
• Volatility expanded significantly in the afternoon, with a Bollinger Band break above the upper band.
• Notional turnover surged past $62 million, with heavy buying pressure observed in the final 45 minutes.

Litecoin (LTCUSDT) opened at $106.06 on 2025-08-01 12:00 ET and closed at $108.12 by 12:00 ET on 2025-08-02. The 24-hour high reached $109.43, while the low was $104.47. Total volume was 62198.771 LTC, and notional turnover exceeded $6.7 million, reflecting strong investor interest.

Structure & Formations

Over the past 24 hours, Litecoin displayed a clear bullish bias, with price forming a series of higher highs and higher lows after the early morning dip. A key resistance level appears to have formed around the $108.50–$109.00 range, where price encountered selling pressure multiple times. A notable bullish engulfing pattern emerged in the final candle, indicating a potential breakout scenario. A key support zone was identified between $106.00 and $106.50, which held during early volatility.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both trended upward, with price staying well above both. This suggests a short-term bullish bias. On the daily chart, the 50-period moving average appears to be acting as a dynamic support, while the 200-period line remains a distant resistance, indicating a longer-term bullish setup.

MACD & RSI

The MACD remained positive throughout much of the session, with a narrowing histogram suggesting slowing momentum in the afternoon. However, the RSI surged into overbought territory near the close, signaling potential exhaustion or a consolidation phase. The combination of a strong RSI and positive MACD suggests continued accumulation, but investors should watch for a pullback to key Fibonacci levels for confirmation of a sustainable rally.

Bollinger Bands

Volatility expanded significantly during the afternoon and evening hours, with price breaking out above the upper Bollinger Band for the first time in the session. This indicates increased conviction among buyers. A contraction in volatility was observed early in the morning, suggesting a period of consolidation before the breakout.

Volume & Turnover

Volume spiked sharply in the final hours of the reporting period, particularly between 15:30 and 16:00 ET, with a massive 62,198.771 LTC traded as price moved above $109.00. Notional turnover also surged, reaching over $6.7 million. This volume surge aligns with the price increase, offering confirmation of the bullish move rather than divergence.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $104.47 to $109.43, the 61.8% level sits around $107.70–$108.00. Price has tested this level multiple times and appears to have found support. The 38.2% retracement at $106.30–$106.60 also held, suggesting that buyers are active in this range.

Litecoin appears to be consolidating after a strong 24-hour rally, with key resistance at $109.00 and support at $106.50. If the bullish momentum holds and the price breaks above $109.00, further gains toward $110.00 could follow. However, traders should remain cautious of a potential pullback to the 61.8% Fibonacci level for confirmation.