"Litecoin Plunges: Bulls Battle to Defend $100 Amid Selling Pressure"

Litecoin, the fifth-largest cryptocurrency by market capitalization, has been grappling with intense selling pressure, leading to a significant drop in its price. The coin has experienced sharp price swings, plummeting from around $130 to $100 in a matter of hours. This steep decline has raised concerns among investors as Litecoin struggles to maintain key support levels.

Market uncertainty has left Litecoin trading at a crucial level, with bulls trying to defend the $100 mark amid persistent selling pressure. The failure to hold above higher price ranges suggests a weakened bullish structure, increasing the risk of further declines. Top analyst BigCheds shared a technical analysis highlighting that this is the third time Litecoin has thrown back to the $100 level. Historically, repeated retests of key support zones increase the likelihood of a breakdown, adding to the bearish sentiment surrounding LTC. If the $100 level fails to hold, Litecoin could face a deeper correction, aligning with the broader market downturn.

Traders are now closely watching Litecoin’s next move to determine whether it can stabilize or if another wave of selling will push it lower. With volatility dominating the market, LTC remains at a pivotal moment that could dictate its price action in the coming weeks.

Despite its turbulent price action, Litecoin has shown relative strength in recent weeks, managing to hold key support levels. However, it continues to struggle against significant resistance, preventing a clear trend from forming. The main issue facing Litecoin is its inability to break above supply levels, keeping price action in a tight range. While bulls have attempted to push LTC higher, sellers at major resistance levels have repeatedly stalled momentum. Without a decisive breakout, Litecoin remains stuck in a consolidation phase, leaving traders unsure of its next move.

BigCheds’ technical analysis highlighted that another high-timeframe (HTF) throwback to the $100 range followed a $130 supply level rejection. This marks the third time Litecoin has tested the $100 support zone, a level that has been crucial in preventing deeper declines. If LTC fails to hold this area, it could trigger a more extended correction.

Litecoin is currently trading at $102 after a massive drop from the $130 mark, leaving bulls in a critical position to defend key levels. The