Litecoin traders say LTC price dips below $100 are ‘accumulation’ opportunities

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After a period of outperformance against major crypto assets, Litecoin ( $52.20 ) ’s (LTC) price dropped as low as $94, a 26% fall from the weekly open.

While the trade wars between the US, Canada, China, and Mexico continue to pressure the crypto market, multiple analysts have pointed out a potential opportunity in Litecoin ( $52.20 ) .

Litecoin ( $52.20 ) dip follows “overly bullish commentary” in February

In February, LTC was one of the few altcoins that exhibited price dominance against BTC. Litecoin ( $52.20 ) remained at breakeven value for the month, while Bitcoin ( $76,396.00 ) faced an 18% drop. Litecoin ( $52.20 ) ’s resilience led to positive social commentary surrounding the crypto asset, which was largely dominated by the spot LTC ETF filings.

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Litecoin ( $52.20 ) address activity in February. Source: X.com

Santiment data pointed out these developments and identified an increase in LTC active addresses to 445,000 over the month.

Irrespective of the current market structure, Valeriya, a crypto and Forex trader, stated that Litecoin ( $52.20 ) displays “signs of reaccumulation.” The trader added,

“Testing the indicated level (POI) may provide favorable conditions for opening a long position. Growth potential: 60%”

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Litecoin ( $52.20 ) 1-day chart. Source: Valeriya / X

Key Litecoin ( $52.20 ) levels to hold under $100

From a technical perspective, Litecoin ( $52.20 ) trades in a higher consolidation range, where the overhead resistance range of $130 to $140 remains unbreached.

The daily chart shows that the price has remained above the 200-day exponential moving average (200D-EMA) since Nov. 6, 2024. A break below the 200D-EMA might indicate the early signs of a high time frame (HTF) bearish shift.

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Litecoin ( $52.20 ) 1-day chart. Source: Cointelegraph/TradingView

Under those circumstances, the immediate support for Litecoin ( $52.20 ) remains between $92 to $100 and $80-$88. As illustrated in the chart, LTC retested support range 1 ($92 to $100) on March 4 before immediately recovering above the 200D-EMA.

The relative strength index (RSI) also dropped to 38, its lowest value since Aug. 8, 2024, deviating below a 7-month low.

Data from IntoTheBlock added more onchain confluence to the support ranges defined in the chart. Between $79 and $90, a total of 6.86 million LTC tokens were held by 1.73 million addresses, while 1.11 million addresses held 17.84 million LTC tokens in the $90 to $108 range.

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Litecoin ( $52.20 ) addresses currently holding LTC. Source: IntoTheBlock

Thus, in terms of trading volume, $108 and $90 is the immediate support range, while more holders are between $79 and $90.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.