Litecoin Price Dips as Bearish Sentiment Deepens

Litecoin (LTC) is facing renewed selling pressure, with its price sliding 3.59% over the past 24 hours to $89.26, according to CoinMarketCap. The decline follows a brief peak at $94.01 before market volatility pushed LTC to a low of $88.24. Although the coin bounced back slightly, its technical indicators suggest further downside could be ahead.

The Bollinger Bands indicator shows that Litecoin has breached its 20-day moving average, signaling a bearish momentum. As the price moves below the middle band, this trend points to continued negative sentiment in the LTC market. Analysts warn that if this trend holds, Litecoin could dip to the next key support level at $83.19 unless bulls intervene with strong buying activity.

Adding to the cautionary outlook is a decline in trading volume, down 3.51% to $425.29 million, suggesting weakening investor interest. The overall market remains uncertain, and Litecoin’s current trajectory mirrors broader cryptocurrency market volatility.

Still, some investors remain optimistic. Historical data reveals that Litecoin typically performs well in June, with an average monthly gain of 8.86%. If this pattern repeats, LTC could potentially rebound to $97.17, assuming positive momentum returns.

While Litecoin recently benefited from a 12% rally in May despite delays in U.S. SEC ETF approvals, the current technical setup points to caution in the short term. Traders are closely watching the $88 support level and hoping for a bullish reversal that could reignite upward movement.

As the crypto market remains unpredictable, Litecoin’s next move will largely depend on market sentiment, volume recovery, and potential catalyst events. For now, technicals lean bearish, but history suggests a possible rebound if trends shift.