Litecoin moves sideways—Volatility during the day is linked to the pulse of Bitcoin

In a recent update on platform X, analyst Cryptowzrd shared about the daily technical setup of Litecoin (LTC), noting that the trading session ended in a state of indecision as the LTC/BTC pair reacted to the rise of Bitcoin's dominance index (BTC.D).

The LTC bull faction is striving to break out | Source: CRYPTOWZRD on XAs Bitcoin continues to lead the overall market trend, Cryptowzrd stated that it will closely monitor the short-term chart of LTC to look for quick trading opportunities.

LTC/BTC shows slight bullish signals amid a hesitant market

According to Cryptowzrd, both LTC and the LTC/BTC pair closed the session with a doji candle – indicating the market sentiment is still unclear. However, the fact that LTC/BTC closed the session in the green, albeit not significantly, is still an early positive signal regarding the potential for a change in price momentum. Nevertheless, to confirm a sustainable bullish trend, stronger and more consistent daily candles need to appear.

The current key resistance level is 0.0010 BTC. If LTC/BTC can clearly break through this price range, an acceleration may be triggered as the pair is in an oversold state. At that point, the important growth target for LTC will be the $140 area.

On the contrary, the notable support level is located at $96. Cryptowzrd warns that this price range is only likely to be tested if Bitcoin drops sharply to the $110,000 area, due to the impact of a panic sell-off. In this scenario, LTC is likely to follow the trend of BTC and adjust deeper.

Short-term volatility creates an unclear trading setup

Cryptowzrd also noted that the daily chart of Litecoin recorded a significant increase in volatility, diminishing short-term trading conditions. Therefore, the analyst stated that they are waiting for a clearer and better-structured price model before considering entry points.

One price to watch is the resistance at $114.50 in the short time frame. If the price can break above this level, it will be a bullish signal and may stimulate additional buying pressure. Additionally, breaking the downward trend line on the daily chart could also increase the upward momentum and open up the possibility for a stronger recovery.

LTC is trading at $108 on the 1-day chart | Source: Bitcoin MagazineAlthough there have been some positive technical signals, Cryptowzrd emphasizes that the price action of Bitcoin remains the main directional factor for the market. Therefore, any trading decisions need to be considered in the context of the overall BTC trend. At this moment, the preferred strategy is still to patiently wait for a clear setup.

Mr. Teacher