Litecoin (LTC) is showing signs of strength in the face of a shaky global economy. The cryptocurrency held firm at the $87.50 level through multiple tests, defending a price floor that traders now see as critical, according to CoinDesk Research’s technical analysis data model.
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This comes as markets respond to ongoing trade tensions and monetary policy uncertainty from major central banks.
Technical Analysis Highlights
- At 07:00 , Litecoin surged to a 24-hour high of $89.76—a 3% jump from its session low—before facing strong resistance near the $89 mark. Volume spiked during that move, peaking at 273,699 in a signal that investors were watching this level closely.
- The price later dipped below support at $87.60, dropping to $87.53 on a sharp 1% hourly decline, but quickly rebounded. This recovery, which saw a potential double bottom formation, was accompanied by a burst in volume, hinting at buying interest.
- Even amid the price volatility, Litecoin has preserved its upward channel—a sign the bullish trend remains intact.
- For traders, this means the market is still betting on higher prices, despite headwinds from inflation fears and shifting economic policy.
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