Litecoin （LTC） has rebounded by 12% following a market-wide sell-off, but continues to face downward pressure due to declining buying pressure and bearish market indicators.
Points
- Litecoin has rebounded 12% after a market-wide sell-off.
- The coin faces continued downward pressure.
- Bearish indicators suggest potential for further price declines.
Litecoin （LTC） has experienced a 12% price surge, reaching a temporary high of $58.96 during early trading on Tuesday. This rally marks the largest single-day gain for LTC since March 29, providing some relief for holders following Monday’s market-wide decline. However, despite this short-term uptick, Litecoin continues to face significant downward pressure.
As of this writing, LTC is trading at $58.29, having declined slightly from its Tuesday morning high. The 10% price increase over the past 24 hours mirrors the broader cryptocurrency market’s uptrend, yet bearish headwinds persist. Indicators such as the On-Balance-Volume （OBV） and Chaikin Money Flow （CMF） suggest a challenging environment for Litecoin bulls.
The OBV, which measures buying and selling pressure in the market, shows a declining trend, indicating that selling pressure currently outweighs buying pressure. This bearish trend is further confirmed by Litecoin’s CMF, which remains below the zero line at -0.07. A negative CMF value signifies increased liquidity exit from the market, often a precursor to sustained price declines.
Additional analysis from the Directional Movement Index （DMI） reveals that Litecoin’s positive directional indicator （+DI） rests below its negative directional indicator （-DI）, suggesting that the downtrend is stronger than any uptrend. This bearish market condition is underscored by the Average Directional Index （ADX）, which at 37.90, indicates a strong market trend regardless of direction.
The recent market downturn pushed LTC to a two-year low of $50 on Monday. If the bearish sentiment intensifies, Litecoin’s price could revisit this level or drop further. Conversely, if the market sentiment shifts and bulls regain control, LTC could climb back to $64.79.
解説
- Price Surge: Litecoin’s 12% increase offers short-term relief but is overshadowed by broader bearish trends.
- Bearish Indicators: OBV and CMF suggest continued selling pressure and liquidity exits from the market.
- Directional Movement Index: Indicates a stronger downtrend, with the potential for further price declines.
- Market Conditions: Investors should monitor key indicators and broader market trends to assess Litecoin’s potential recovery.