Litecoin (LTC) saw a notable decline in its price action as it failed to break through key resistance levels during Monday’s session, reflecting broader market dynamics driven by Bitcoin’s rising dominance and lowered volatility.
Litecoin Faces Rejection at $88 Resistance
Litecoin’s price attempted to breach the $88 mark but encountered heavy selling pressure, leading to a pullback. The asset retreated to $85.21, marking a 3.17% drop from the session high and a 1.5% decrease over the last 24 hours.
The resistance zone between $88.00 and $88.42 saw increased sell orders, halting bullish momentum.
Technical Support Holds Near $85.37
Despite the downward move, Litecoin found short-term support at $85.37, which held up through volatile market swings. The highest intraday trading volume—over 180,000 tokens—coincided with the sharpest decline, highlighting strong bearish sentiment.
Price volatility over the past 24 hours covered a range of $3.05, or approximately 3.5%.
Litecoin Intraday Movements Reflect Uncertainty
In the final hours of trading, LTC briefly spiked from $85.65 to $86.05, a 0.47% gain, before falling back to $85.53, indicating unstable momentum. The rejection at $86.05 reaffirmed this level as a near-term resistance, while $85.37 remains key support.
Litecoin ended the session at $85.42, maintaining a fragile balance between bulls and bears.
Bitcoin Dominance Impacts Altcoin Market
Litecoin’s price movement comes as Bitcoin (BTC) continues to assert market dominance, currently trading at $107,186.51. With BTC volatility falling below the 40 level, traders are on alert for potential high-impact moves.
As Bitcoin dominance rises, altcoins like Litecoin may face increased pressure and capital outflows.
Outlook: Key Levels to Watch for Litecoin
Traders are now closely observing whether Litecoin can hold above $85.37 support or break above $86.05 resistance to retest the $88 zone. A failure to reclaim higher ground may lead to further downside pressure, while a breakout could open the door for short-term recovery.
Conclusion
Litecoin’s inability to sustain a move above $88, combined with bearish volume and Bitcoin-led market trends, signals a cautious trading environment. As Bitcoin dominance rises, altcoin traders should watch Litecoin’s key levels closely for confirmation of trend direction in the coming days.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.