The post Litecoin Slumps 12% in 24 Hours appeared on BitcoinEthereumNews.com.

Litecoin (LTC) is down more than 12% in the last 24 hours, with its price trading around $100 and its market cap dropping to $7.5 billion. The sharp decline comes as selling pressure intensifies, pushing LTC’s RSI into oversold territory and Chaikin Money Flow (CMF) deeper into negative levels. If the downtrend continues, LTC could test $92.5 support and potentially drop to $80, its lowest price since November 2024. However, if momentum shifts, LTC could attempt a recovery, breaking back above $100 and targeting resistance levels at $106, $111, and possibly $119. LTC RSI Is Currently At Oversold Levels Litecoin Relative Strength Index (RSI) has dropped to 26.7, a sharp decline from 57.1 just two days ago. This steep fall indicates that LTC has entered oversold territory, suggesting intense selling pressure. Such a rapid drop often reflects panic selling or a strong bearish trend, leaving LTC vulnerable to further downside unless buyers step in. However, an RSI this low also signals that the asset may be nearing a potential short-term reversal, as oversold conditions often lead to relief bounces. LTC RSI. Source: TradingView. RSI is a momentum indicator that ranges from 0 to 100, measuring the strength of recent price movements. Readings above 70 indicate overbought conditions, where assets are likely to face selling pressure, while readings below 30 suggest oversold conditions, where buying opportunities may emerge. With LTC’s RSI now at 26.7, it is deep in oversold territory, increasing the chances of a short-term bounce. However, if bearish momentum persists and RSI continues falling, Litecoin could struggle to find support and extend its losses before any recovery attempt. Litecoin CMF Fell Below -0.20 Litecoin’s Chaikin Money Flow (CMF) is currently at -0.21, down from 0.03 just two days ago, indicating a significant shift in capital flow. Earlier, CMF briefly…

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Filed under: News - @ March 5, 2025 2:22 am