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Litecoin had a rough day, closing in the red — nothing dramatic, but enough to catch traders’ attention. CryptoWzrd, a well-known analyst, pointed it out in a recent post, noting how LTC’s price still seems glued to Bitcoin’s movements. That’s hardly surprising, but it does make things tricky when the whole market feels shaky.
The $96 mark is the next big hurdle for Litecoin, according to CryptoWzrd. If it can push past that, there’s room to run toward $128. But that’s a big “if.” Right now, the charts aren’t exactly screaming confidence.
What’s interesting — or maybe frustrating, depending on your position — is how Litecoin’s fate seems tied to two things: Bitcoin’s price action and whether altcoins can finally catch a break. CryptoWzrd mentioned that the LTC/BTC pair looks indecisive, neither strong nor weak. That’s not exactly helpful for traders waiting for a clear signal.
For Litecoin to really move up, it needs healthier candles on the LTC/BTC chart. Without that, any rally might just fizzle out. And here’s the kicker: Bitcoin’s dominance needs to ease up a bit. If BTC keeps hogging the spotlight, altcoins like LTC will keep struggling.
On the daily chart, $96 is the level to watch. Break above it, and things could get interesting. Fall short, and well, it’s back to waiting. On the flip side, $80 is critical support. If that gives way, the next drop could be ugly.
CryptoWzrd isn’t jumping into anything just yet. The intraday action has been messy — lots of ups and downs without much direction. He’s keeping an eye on lower time frames for quick trades, but even those setups aren’t exactly clean.
For now, patience seems to be the play. A move above $90 might hint at a decent long opportunity, but if the price gets rejected there, the bears could take over. Until the market sorts itself out, it’s probably best to wait.
*Featured image from Adobe Stock, chart from Tradingview.com*
