Litecoin price analysis (Bearish) — 98.91 USDT (-22.47% 24h)

Litecoin is experiencing severe technical distress as price plunges to $98.91, representing a staggering 22.47% decline over the past 24 hours. The RSI reading of 14.6 indicates deeply oversold conditions rarely seen in crypto markets, suggesting potential for a technical bounce. However, the current price sits well below both the 20-day SMA ($111.97) and 50-day SMA ($118.52), confirming the strong bearish momentum. Trading volume remains elevated at over $507 million, indicating significant selling pressure but also potential capitulation. The high volatility reading of 9.2% suggests continued price instability. For traders, this presents a high-risk environment – aggressive traders might consider scaling into long positions given the extreme oversold conditions, but should use tight stop-losses below recent lows. More conservative investors should wait for price stabilization and RSI recovery above 30 before considering entry.