Litecoin price analysis (Bearish) — 106.76 USDT (-6.99% 24h)

LTCUSDT is showing significant weakness with a sharp 6.99% decline over the past 24 hours, trading at $106.76 against key moving averages. The RSI reading of 8.79 indicates extreme oversold conditions, suggesting potential for a short-term bounce. However, the price remains below both the 20-day SMA ($113.02) and 50-day SMA ($113.84), confirming the bearish momentum. Volume remains elevated at $66.7 million, indicating active selling pressure. Traders should watch for any bullish divergence on lower timeframes, but until LTC reclaims the $113-114 resistance zone, the path of least resistance remains downward. Consider short-term scalps on oversold bounces with tight stops, but avoid heavy long positions until clear reversal signals emerge.