Litecoin (LTC) is showing signs of a trend reversal as its weekly chart reaches a critical technical zone watched by the crypto analyst Surf.
The price has retraced to the 0.786 Fibonacci level, often seen as a deep support area, while momentum has weakened significantly, hinting that selling pressure could be fading and buyers may begin regaining control soon.
Source: Surf X Post
At the time, the Index had fallen below 30, placing Litecoin in oversold territory and strengthening the case for a bottom formation.
This confluence of signals suggests a rebound toward the $100 level is possible, although confirmation will depend on sustained support, improving momentum, and the emergence of higher highs and higher lows in weeks.
Also Read: Litecoin (LTC) Accumulation Zone Around $45–$47 Could Push Price to $102
Key EMAs and Bollinger Band Signals Cautiousness
According to TradingView, the 4-hour LTC price chart indicates a sharp downtrend from late January to early February, declining from $68 to $45 with minimal retracement levels.
From the Bollinger Bands, the price has experienced high volatility, with the Bands repeatedly broken by the price candles.
The 20-period EMA is below the 50-period EMA, both declining, indicating strong bearish momentum. The price has experienced multiple failures to rally.
Source: TradingView
In Litecoin, a sign of recovery is seen from Feb 11 to 13. The price has crossed above both the 20-period and 50-period EMAs, nearing the middle Bollinger Band at $55.
The resistances for Litecoin lie at the 100-period EMA ($57.68) and the 200-period EMA ($63.17). Bullish candles seen here may signal a short-term reversal or a consolidation.
Litecoin Momentum Indicators Point to Recovery Phase
RSI (14) is in the low 60s, indicating rising bullish momentum without any signs of overbought conditions. It has moved above the signal line, indicating rising buying pressure.
It has been rising steadily from the middle range, indicating improving bullish momentum after a period of weakness. It therefore has a moderately bullish bias. It is in the 60-65 region, where it is rising with no signs of weakening.
Source: TradingView
The MACD (12, 26, 9) is showing a bullish crossover, where the MACD line is above the signal line, and the histogram is also positive.
The green bars on the chart are expanding, indicating increasing momentum in the direction of the trend. The lines are also rising, showing increasing momentum in the market, and the trend is also in an uptrend.
Also Read: Litecoin (LTC) Faces Critical Support; Rebound Could Push Price to $80–$135
