Litecoin

Litecoin (<a href="https://blockchainreporter.net/litecoin-breaks-key-support-level-setting-up-potential-drop-to-70/" rel="noopener noreferrer nofollow">LTC</a>) has broken out of a crucial trading channel, triggering concerns of a further price drop. As of March 17, 2025, LTC is trading at $92.79, marking a 2.84% increase for the day. However, analysts suggest that the recent break below a key support level could pave the way for a deeper decline, potentially pushing the cryptocurrency toward the $70 mark.According to<a href="https://x.com/ali_charts/status/1901937764502815209?s=46&amp;t=CT4N8GpAjQ09xqHZfZncoQ" rel="noopener noreferrer nofollow"> Crypto Analyst Ali Martinez on X</a>, Litecoin has slipped below the $97 support level, a critical price point that had previously acted as a safety net for the asset. Historically, such breakdowns often lead to intensified selling pressure as traders and investors react to the shift in market structure. The attached chart highlights a steep drop from the $103 level, reinforcing bearish momentum. While LTC has shown a minor bounce from the $89 level, the overall trend suggests that further downside movement remains a strong possibility.Several key technical indicators suggest that Litecoin’s recent downturn could extend further: The chart shows LTC struggling to reclaim the $97 level. If this level turns into resistance, the next major support zone sits around $70, making it a likely target if selling pressure persists. Litecoin’s price pattern indicates lower highs and lower lows, a classic signal of a downtrend. A break below significant support often leads to increased fear and uncertainty, which could drive further sell-offs in the market.<h2 id="header-0">Litecoin’s Price Scenarios &amp; Strategy</h2>Litecoin could enter a prolonged bearish phase if it fails to regain strength above the $97 level. The most likely scenario involves the cryptocurrency testing the $85-$89 range before possibly extending losses toward $70, which would represent a major correction from its recent highs. Conversely, if bulls regain control and push LTC back above $97, it could challenge resistance levels at $103 and beyond, potentially negating the bearish outlook. However, the prevailing trend suggests that sellers remain in control for now.The recent breakdown in Litecoin’s price could impact broader market sentiment, particularly for traders and investors who closely follow technical patterns. Investors should monitor whether LTC can reclaim lost support levels or if the downward trajectory continues toward $70.For those looking to capitalize on the price action, short-selling opportunities may arise if Litecoin remains below $97. Meanwhile, long-term investors may see a dip toward $70 as a potential accumulation zone, assuming confidence in Litecoin’s long-term fundamentals.Litecoin’s break below key support levels has raised concerns about further declines, with $70 emerging as a potential downside target. While short-term rebounds may occur, technical indicators and broader market sentiment suggest that bearish pressure remains dominant. Traders and investors should stay vigilant, keeping a close eye on critical price levels in the coming days.

Litecoin Breaks Key Support Level, Setting Up Potential Drop to $70

Table of Contents

BlockchainReporter

Other articles published on Mar 19, 2025

Volatility Shares launching Solana futures ETFs March 20

RWA boom is inevitable, but BSC sell-offs expose crypto risks: pro

Best Cryptos to Join for Long Term: Qubetics Hits 23,400+ Holders as Cardano and Filecoin Price P...

Bitnomial Exchange to Withdraw Lawsuit Against SEC as XRP Futures Launch Nears

Crypto ETF 2.0: How Meme Coins Are Driving the Institutionalization Trend of ETFs Following BTC

Whales Take Notice of This New Crypto Priced at $0.02 as It Targets a 1,500% Surge

Join our free newsletter for daily crypto updates!