Litecoin price analysis (Bullish) — 97.47 USDT (-7.96% 24h)

Litecoin is showing significant technical weakness as it trades at $97.47, down nearly 8% over the past 24 hours. The current price sits below both the 20-day SMA ($98.07) and 50-day SMA ($99.62), indicating sustained bearish momentum. The RSI reading of 29.4 signals deeply oversold conditions, which typically precede a potential relief rally or consolidation period. Trading volume remains elevated at over $97 million, suggesting strong institutional interest at these levels. For traders, this presents a classic contrarian opportunity – consider scaling into long positions with tight stop losses below $95. The oversold RSI combined with support near current levels suggests limited downside from here. However, given the broader market uncertainty, position sizing should remain conservative until we see a confirmed break above the $100 psychological level.