Litecoin/Tether (LTCUSDT) 24-Hour Market Overview

• LTC/USDT broke below $108.50 amid bearish momentum and declining volume.
• RSI and MACD indicate oversold conditions with potential for a near-term bounce.
• Bollinger Bands show moderate volatility with price near the lower band.
• Volume remains elevated at key support, suggesting potential consolidation.
• Fibonacci retracement levels at $106.2–$107.5 may offer short-term buyers.

Litecoin/Tether (LTCUSDT) opened at $105.8 on 2025-11-09 12:00 ET and closed at $106.81 on 2025-11-10 12:00 ET, with a high of $113.71 and a low of $105.1. Total volume for the 24-hour period was 343,946.07 LTC, with a notional turnover of approximately $36.5 million.

The price action suggests a bearish consolidation phase, with a breakdown below key resistance at $108.50. A strong bearish engulfing pattern formed on the 15-minute chart around $110.62–$109.30, followed by a doji at $109.07–$109.08, signaling potential exhaustion. The 20-period moving average is below the 50-period average, confirming a short-term downtrend, while the 50-period line on the daily chart remains above the 200-period line, suggesting medium-term bullish bias.

MACD has crossed below the signal line with a bearish divergence, while RSI is in oversold territory at 27, indicating possible short-term reversal. Bollinger Bands are moderately wide, with price hovering near the lower band, suggesting a potential bounce. Volume is concentrated at key support levels, particularly around $106.50 and $107.00, increasing the likelihood of a rebound in the near term.

Fibonacci retracement levels from the recent high of $113.71 to the low of $105.1 show key potential support at $107.5 (38.2%) and $106.2 (61.8%). If these levels hold, a retracement to $109.00–$110.00 is plausible over the next 24 hours. However, a break below $106.00 could extend the downward move.

The current setup suggests a high probability of a short-term bounce from the oversold RSI and tight Bollinger Bands, but caution is warranted. A close above $109.00 could signal a retest of key resistance. Traders should be mindful of the risk of a breakdown below $106.00, which could trigger further bearish momentum. Volatility may increase if volume spikes again at critical levels.

Backtest Hypothesis
A possible backtest strategy could involve entering long positions when LTC/USDT closes above the 20-period moving average, with a stop-loss below the 50-period line. RSI crossing above 30 and a bullish divergence in MACD could act as confirmatory signals. A target for the long side could be a 2.5% retracement back to $109.00–$110.00. For the short side, a breakdown below $106.00 on a close with expanding volume could signal a sell opportunity, with a stop above $107.50.