The cryptocurrency market continues to struggle, with Ethereum plunging to $2,000 from its December peak of $4,000. This broader sell-off has intensified bearish pressure on altcoins. However, Litecoin has demonstrated resilience, experiencing a more moderate decline compared to other major assets. Despite a 5,41% drop at the moment, LTC is defending a key support level.

Defending a Critical Price Zone

LTC’s recent downturn follows a rejection from the $140 resistance level on February 21. Since then, the price has steadily declined, reaching a low of $92 before stabilizing near the 200-day moving average at $96. While the MACD indicator remains bearish, a successful bounce from this level could push LTC toward the 100-day moving average at $114. A confirmed breakout above this zone would indicate a potential trend reversal.

If LTC fails to hold its current support, the next critical level is around $80, a historical demand zone that previously acted as a strong accumulation area.

Can Litecoin Follow Its Halving Pattern?

Historical data suggests that Litecoin often enters an accumulation phase before significant rallies following its halving events. Analyst @_CryptoSurf notes that previous cycles have shown price retracements to the 0.618 Fibonacci level before strong breakouts. If this trend repeats, LTC could be positioning itself for a long-term bullish move.

What’s Next for LTC?

Currently, Litecoin is trading just above a key support zone, with a potential rebound setting the stage for a move toward $114. However, if selling pressure intensifies, the $80 support will be crucial in determining the next phase for LTC. Investors and traders should closely watch price action in the coming days to gauge whether a bullish recovery is in sight.