Litecoin (LTC) price is experiencing a slight recovery, currently trading above the $68 mark on Tuesday morning. After touching the support zone around the bottom of the descending wedge pattern, LTC seems to have found a solid resistance. On-chain signals combined with improving derivatives data indicate that this coin has prospects for a rebound if buyers continue to successfully defend the key support area.
On-chain and derivatives data for Litecoin show recovery potential
The aggregated chart from CryptoQuant presents a positive outlook for Litecoin, as both the Spot and Futures markets show large orders from whales, with clear buying pressure dominating. Meanwhile, the Futures market is showing signs of cooling down, creating a favorable foundation for a potential recovery.
Source: CryptoQuant OI-Weighted Funding Rate data from CoinGlass also supports this outlook: the number of traders betting on further price declines remains lower than those expecting increases. This index turned positive on Sunday and is currently at 0.0063%, indicating that Long positions are paying fees to Shorts. Based on market experience, when the funding rate shifts from negative to positive, Litecoin often shows clear signs of recovery.
Source: CoinGlass## Litecoin Price Forecast: LTC could recover if key support holds
On January 14, Litecoin (LTC) was rejected at the 50-day EMA at $77.39 and then declined nearly 18% over the next 10 days, retesting the April 9 low of $66.51 last week. In the past four days, LTC has been moving sideways around the lower boundary of the descending wedge pattern, connecting multiple highs and lows since mid-October. As of Monday, LTC is trading around $68.14.
Daily LTC/USDT chart | Source: TradingView If the lower trendline is maintained as support, LTC could continue its recovery toward the weekly resistance at $77.19, close to the 50-day EMA at $77.39. The daily RSI is at 34 and trending upward after reaching oversold territory, indicating selling pressure is weakening and early signs of recovery are emerging. However, for a solid rebound, the RSI needs to break above the neutral level of 50. Meanwhile, the MACD is converging with shrinking red histograms below zero, further strengthening LTC’s potential to bounce back.
Conversely, if LTC faces selling pressure, the next weekly support zone is expected around $56.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
PENGU Eyes 30% Rally as Analyst Flags Crucial Breakout Level
PENGU consolidates near $0.009 resistance after a long 90% decline from highs.
Analysts expect a 30% rally if breakout above key resistance level confirms strength.
ETF speculation and ecosystem growth could fuel volatility and upside momentum.
Pudgy Penguins — PENGU, is sitting at a
CryptoNewsLand1h ago
Analyst: $80K Emerges as Bitcoin's Key Resistance Level, Breakout Could Trigger Increased Volatility
Gate News message, April 26 — On-chain analyst Murphy identified $80,000 as Bitcoin's primary resistance level above the current price, citing a combination of options Gamma exposure, open interest (OI), and implied volatility (IV) data. The level represents a critical checkpoint for May's price
GateNews2h ago
Crypto Fear and Greed Index Falls to 32, Indicating Panic State
Gate News message, April 26 — The Crypto Fear and Greed Index currently stands at 32, up 2 points from the previous day, according to Coinglass data. The index is in a panic state.
The seven-day average is 34, while the 30-day average is 19, indicating elevated market anxiety over the past
GateNews2h ago
PLA Plummets 47.8% in 30 Minutes, Dropping Below $0.12
Gate News message, April 26 — PLA (PlayDapp) price crashed 47.8% in just 30 minutes today, falling to $0.1225. The token, which hit a day high of $0.2347, now trades at $0.122512 with a market cap of approximately $305 million. Trading volume remains notably low, reflecting reduced investor
GateNews3h ago
7-Day AI Coin Performance Explodes — Are These 5 Tokens Worth Buying Right Now?
These tokens’ weekly performance reflects different degrees of stability, speculation, and maturity.
Social factors and interactions also contributed to short-term price dynamics.
Those with larger ecosystems appear to have more stable price movements than highly volatile assets.
There h
CryptoNewsLand7h ago
Trump delays the schedule of talks with the Middle East envoy, and Bitcoin slips modestly as geopolitical volatility eases
U.S. President Trump announced that the itinerary of the Middle East envoy, Wittekoff, and Kushner to Pakistan has been canceled, emphasizing that the U.S. side holds the negotiating initiative; Bitcoin fell in the short term due to the news, and analysts say it was due to a geopolitical risk premium, with market focus shifting to the Palm Beach crypto conference and future regulatory developments.
ChainNewsAbmedia8h ago
