The post Resistance Rejection Sparks Bearish Wave in Litecoin appeared on BitcoinEthereumNews.com.

Litecoin (LTC) is expected to take a nosedive to $83 as analysts spot a bearish formation on its price chart.  Breaking above the $96 level could also lead to a “smooth ride” to $100 and subsequently to $107.  Litecoin (LTC), one of the most undervalued digital assets, has shown the formation of a “classic dead-cat bounce pattern” as it prints losses across four of the five major trading sessions. According to our market data, the asset failed to break into the $90 resistance level, declining by 2% in the last 24 hours, 12% in the last 30 days, 0.12% in the last 90 days, and 14.2% from year to date. Conversely, Litecoin has managed to record a 2% gain on its weekly price chart to trade at $89. Looking into its historical chart, we found that Litecoin had been making some notable runs before closing below the ascending trendline and the 200-day Exponential Moving Average at $93.30 on May 30. On June 5, Litecoin recorded an 8% decline. From this level, the asset recorded some gains before facing a huge rejection at $93 to fall below $90. Prior to this, CNF had reported the significant surge in Litecoin inflows on various exchanges, with Coinbase recording $1.72 million. As indicated in our earlier discussion, Binance and Bybit also had $532k and $394k, respectively. More About the Litecoin (LTC) Price Analysis Amidst the backdrop of this, traders are reported to be seeking to short Litecoin between an entry range of $93 and $95. Already, the short position in the derivative market is almost reaching its highest in months. Confirming this, Coinglass data disclosed that the long-to-short ratio of Litecoin is currently around 0.82. Technically, a ratio of below 1 signals a bearish sentiment with more traders anticipating a price decline. Source: Coinglass…

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Filed under: News - @ June 13, 2025 12:25 am