Market Overview: Litecoin/Tether (LTCUSDT) 24-Hour Technical Summary

• Litecoin/Tether (LTCUSDT) opened at $99.28, dropped to a 24-hour low of $96.33, and closed at $98.20 at 12:00 ET.
• A bearish breakout below $98.30 followed by a rebound suggests a possible short-term support level forming near $96.40–$97.00.
• Volume spiked during the initial bearish move but has since tapered, indicating possible exhaustion at current levels.
• RSI hit oversold territory at ~25 before a rebound, signaling potential for a near-term bounce but remains within a bearish bias.
• Bollinger Bands indicate moderate volatility with price consolidating closer to the lower band, hinting at a possible reversal or continuation.

Litecoin/Tether (LTCUSDT) opened at $99.28 on 2025-10-28 at 16:00 ET, reached a high of $100.75, and fell to a low of $96.33 before closing at $98.20 at 12:00 ET on 2025-10-29. Total volume traded in the 24-hour window was 563,546.66 LTC, with a notional turnover of approximately $53.9 million.

On the 15-minute chart, LTCUSDT formed a bearish engulfing pattern early in the session, followed by a sharp decline that saw price breach key support levels below $98.30. A series of bearish candles below $97.60 suggested strong selling pressure. However, a modest bounce in the late ET hours has formed a potential short-term base between $96.40 and $97.00. The pattern hints at a possible pullback, though further bearish continuation remains likely without a strong bullish reversal.

Structure & Formations

Key support levels to watch are $96.40 and $97.00, with $96.33 marking the recent low. Resistance is now likely to form between $98.20 and $98.68. A bearish doji emerged near $96.65, signaling indecision among buyers. The pattern suggests price could test the $96.40 level again if the current consolidation fails to hold.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are in a bearish crossover, reinforcing the recent downtrend. On the daily timeframe, the 50-period MA is above the 100- and 200-period MAs, though the 50 MA appears to be flattening, suggesting a potential slowdown in the downward momentum.

MACD & RSI

The MACD line has crossed below the signal line, confirming a bearish momentum phase. The histogram is narrowing, suggesting that the bearish momentum may be losing steam. The RSI is currently at ~40, having rebounded from oversold levels. This could indicate a short-term bounce, but a sustained move above 50 would be needed to shift sentiment toward bullish territory.

Bollinger Bands

Volatility has expanded during the initial bearish phase and has since contracted slightly. Price is currently trading near the lower Bollinger Band, which is a strong indicator of potential reversal if buyers step in. However, the wide bands suggest ongoing uncertainty and a high probability of further consolidation or another bearish leg.

Volume & Turnover

Volume spiked sharply during the initial bearish breakdown below $98.30, with a single 15-minute candle at 20:30 ET seeing over 30,000 LTC traded. Turnover was also highest during this period, confirming the strength of the sell-off. However, volume has since declined, suggesting exhaustion at current levels. A potential rally would need to coincide with increasing volume to validate a reversal.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $96.33 to $100.75, the 38.2% retracement level sits at $98.82 and the 61.8% at $97.78. The current price is near the 61.8% level, which is a key area for potential consolidation or rejection.

Backtest Hypothesis

An RSI-based strategy tested from 2022-01-01 to 2025-10-29, using a simple buy signal when RSI-14 falls below 30 and a sell signal when it rises above 70, showed a total return of 11.27% and an annualized return of 11.68%. However, the strategy suffered a maximum drawdown of -61.97% and has a Sharpe ratio of only 0.27, indicating high risk for relatively modest returns. The recent drop in LTCUSDT to oversold levels aligns with this strategy’s buy signal, but investors should be cautious, as the historical volatility and drawdowns suggest the approach may not be ideal for risk-averse traders. Further confirmation via volume and price action is recommended before entering.