LTCUSD Litecoin

Litecoin (LTC) wrapped up the day with an indecisive close, leaving traders on the edge of their seats. While LTC’s price action offered little clarity, the bigger picture may be unfolding elsewhere. According to market watchers, the real catalyst for Litecoin’s next significant move could come from Bitcoin Dominance (BTC.D). A shift in BTC.D could tip the scales, either paving the way for a bullish breakout or extending its current sideways drift. Litcoin And LTCBTC Await A Clear Signal In a recent update, market analyst CRYPTOWZRD offered a detailed, cautious take on Litecoin’s current technical position while highlighting key factors to watch for a potential upside move. He observed that the LTC/USDT and LTC/BTC daily candles “closed indecisively,” a classic sign of market hesitation. Related Reading: Market Expert Projects ‘Undervalued’ Litecoin To Soar At Least 1,000% — Here’s How This kind of price behavior often reflects a lack of conviction from traders and can precede either a continuation or a reversal, depending on how subsequent candles develop. According to CRYPTOWZRD, what’s needed now are “more healthy candles” to confirm renewed bullish intent in the coming sessions. A major factor influencing Litecoin’s outlook is Bitcoin dominance. CRYPTOWZRD explained that a decline in BTC.D would likely benefit altcoins like Litecoin, allowing LTCBTC to gain traction. If such a shift occurs, Litecoin could begin forming a bullish “W” reversal pattern, typically a reliable signal of a bottoming process and the start of a new upward trend. This pattern, if confirmed, would signal improving market sentiment around LTC and open the door for a stronger recovery. CRYPTOWZRD is keeping a close eye on the $96 level, which he identified as a key threshold on the daily chart. A sustained move above this level could give Litecoin the strength to rally toward the $128 resistance area. “I will be tracking the intraday chart development,” he noted, suggesting that his next trade decision will be heavily influenced by how Bitcoin performs in the short term.  Intraday Choppiness: A Battle For Direction Sharing his thoughts on Litecoin’s intraday performance, the analyst described the chart as “choppy and slow” throughout the day, reflecting a lack of clear momentum in either direction. He emphasized that a decisive move above the $96 mark, followed by sustained price action at that level, could serve as a catalyst for a potential long toward the next significant resistance around $102 or possibly higher. Related Reading: Litecoin Monthly Close Above Key Resistance Could Ignite 30% Rally – Is A Breakout Coming? However, the analyst cautioned that failure to reclaim $96 may result in continued sideways volatility, with no strong directional bias in the near term. He also highlighted the role of Bitcoin in shaping Litecoin’s next move, noting that broader sentiment and movement in BTC will likely decide whether LTC breaks higher or remains range-bound. Featured image from Adobe Stock, chart from Tradingview.com