Litecoin (LTC) is trading in a difficult spot, as February 13 TradingView data shows the LTC/USD weekly chart locked in a clear bearish phase. Price is sitting near $53 after a sharp weekly drop, confirming that Litecoin has lost key structural support levels that held for years.
The most important technical change is that LTC has fallen below the 200-week EMA. This line is considered to be a separator between the strength and weakness of a currency in the long term.
The 20, 50, 100, and 200 EMAs are currently clustered well above, around $78-$90, indicating a large gap. This large gap indicates a strong selling pressure, and any kind of recovery would face a lot of resistance.
Source: TradingView
There is more volatility. Bollinger Bands expanded considerably, indicating more selling pressure. LTC broke below the lower band, which may indicate short-term exhaustion.
However, on a weekly chart, such actions typically result in further consolidation or further downside, rather than a reversal. The lower band is in the high $40s, so $48-$50 is a critical level. If price fails to close above that region, Litecoin may drop into the mid-$40s or even low $40s, where the original demand zones are.
Also Read: Litecoin (LTC) Accumulation Zone Around $45–$47 Could Push Price to $102
Momentum Indicators Point to Persistent Weakness
Momentum indicators are also supporting the bearish stance. RSI (14) is already at around 29, which is strongly in oversold territory. While oversold levels can attract dip buyers, a weekly RSI below 30 is a strong indication of bearish dominance.
For the sentiment to turn positive, the RSI would have to move back into the 40-45 range, which seems difficult without a strong market.
The MACD is also very bearish. The MACD line remains below the signal line, and the histogram bars are increasing in size, indicating that the bearish momentum is still gaining strength rather than weakening.
Source: TradingView
LTC has also broken below the previous support level of $65-$70, which has now become a strong resistance level if the price is to turn around.
Macro Bulls Watch the $40–$51 Demand Zone for Litecoin
Despite the fall in price, there is still hope for some traders. Crypto Patel stated on February 12 that LTC has fallen by 89% from its peak and is now close to an important demand zone. The good place to buy is $41-$51, and a close below $40 will ruin the bullish setup.
Source: X
In the larger scheme of things, LTC is reacting from a long-term liquidity grab zone. If it can hold this level and eventually return to $100-$110, it could then target $300 and perhaps even $500 in a better cycle.
Also Read: Litecoin (LTC) Accumulation Zone Around $45–$47 Could Push Price to $102