As of March 17, 2025, Litecoin is trading at $92.79, marking a 2.84% rise for the day. However, the recent break below the critical $97 support level has raised concerns among analysts about a possible decline toward $70.
Current State of Litecoin Price
As of March 17, 2025, Litecoin (LTC) is trading at $92.79. Despite a 2.84% daily increase, analysts are concerned that the recent breach of the $97 support level could lead to a significant price decline, possibly toward $70.
Technical Analysis and Indicators
Analysts note that LTC is struggling to reclaim the $97 level. If this level turns into resistance, the next major support zone is around $70. LTC's current price pattern shows lower highs and lower lows, a classic signal of a downtrend.
Litecoin's Scenarios and Strategies
If LTC fails to regain strength above the $97 level, it could enter a prolonged bearish phase, testing the $85-$89 range before potentially dropping to $70. Conversely, should bulls regain control and push LTC back above $97, it could challenge resistance at $103 and beyond, potentially reducing the bearish outlook. However, sellers remain dominant for now.
Litecoin's break below key support levels raises concerns of potential 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, closely watching critical price levels in the upcoming days.
