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$LTC – Litecoin's chart is in a clear downtrend right now, stacked with red candles and price sitting well below the MA(7) at 78.89, MA(25) at 80.19, and the longer MA(99). But there's a potential silver lining that could spark a reversal and open up a long trade opportunity worth watching closely.
Price is hovering around $78.85, super close to that 24-hour low of $77.96, and it's showing some real resilience there – like buyers are stepping in to defend the level. We've even got a few small green candles popping up recently, hinting that the bulls are at least testing the waters. Volume tells an interesting story too: big spikes on the way down showed heavy selling, but if we flip to seeing stronger green volume bars as price tries to climb, that could scream selling exhaustion and fresh conviction from buyers.
For a solid long setup, watch for a clean break and hold above the MA(7) at 78.89 – that would be huge confirmation. From there, pushing toward and through the MA(25) at 80.19 could really build momentum. Entry around current levels or on a dip to support makes sense for risk-reward, but always slap a stop-loss just below $77.96 to guard against breakdown.
This is higher-risk in a downtrend, so keep positions sensible. As usual, this is just the chart speaking – DYOR, factor in Bitcoin moves or any
#LTC news, and prioritize that risk management. Excited to see if Litecoin bounces hard from here – who's got it on watchlist? 🚀