Litecoin’s Fate Hinges on Bitcoin Dominance: Price Analysis

Litecoin (LTC) ended its trading day with an indecisive close, leaving traders uncertain about its next move. Analysts suggest that the key to Litecoin's future price action lies not in its own technical indicators, but in the movement of Bitcoin Dominance (BTC.D). A decrease in BTC.D is seen as potentially bullish for altcoins like Litecoin, potentially triggering a bullish “W” reversal pattern, signaling a bottom and a new upward trend. Market analyst CRYPTOWZRD points to the $96 level as a crucial threshold for LTC. A sustained break above this level could propel Litecoin towards the $128 resistance area. Conversely, failure to reclaim $96 could lead to continued sideways trading. CRYPTOWZRD describes the intraday chart as “choppy and slow,” highlighting the lack of clear directional momentum. A decisive move above $96, followed by sustained price action, is viewed as a potential catalyst for a longer-term bullish move towards $102 or higher. However, the analyst stresses that Bitcoin's performance will significantly influence Litecoin's trajectory. The overall market sentiment and Bitcoin's movements will ultimately determine whether LTC breaks out to the upside or remains range-bound. The indecisive daily candles for LTC/USDT and LTC/BTC highlight the current market hesitation and the need for “more healthy candles” to confirm renewed bullish intent. In essence, while Litecoin's price action is currently unclear, the broader cryptocurrency market, particularly Bitcoin's dominance, will be the deciding factor in determining Litecoin's next major price movement.

(Source: https://www.newsbtc.com/news/litecoin/litecoin-next-move/)