Litecoin Teeters on the Edge: Can It Defy Gravity and Smash $94?

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  • Lack of demand, darling, means Litecoin’s next explosive rally is off somewhere having a spa day. 💅
  • $83 is basically Litecoin’s personal security guard. Buyers, you can probably unclench—at least for now.

Let’s have a little gawk at Litecoin [LTC], shall we? The elusive crypto darling has flounced right over local resistance at $89.3, thereby arranging the furniture for what could only charitably be called a “slow move higher.” Volume, alas, had about as much conviction as I have at a salad bar—so don’t expect fireworks. Yet.

Behold, for AMBCrypto (with the help of a suspiciously serious TradingView chart) noticed that Litecoin managed a full day’s close above the 78.6% Fibonacci retracement level. This, apparently, is “bullish.” Personally, I just like how Fibonacci sounds, but whatever keeps the optimism alive.

Translation: Buyers shaking off their hesitation and possibly—possibly!—dragging us all kicking and screaming up toward $96 in the days ahead. Champagne on ice, but don’t pop the cork.

Litecoin conquers a Fibonacci level. Is world domination next? (Spoiler: No)

So, volume is reluctantly ticking up as LTC bounced from a gloomy $83.2 to a sassy $91. The MACD indicator is inching upward too, like a hopeful contestant on a baking show. On the other hand, the CMF—our resident party pooper—remains under the +0.05 “strong inflow” mark. In plain English: demand is present but not exactly storming the gates.

Despite firmer volume, the crowd’s energy is basically “Wednesday night at the office.” Demand is strong enough for a rally narrative, but let’s not get ahead of ourselves. Should enthusiasm fade (and let’s face it, enthusiasm is fleeting), LTC might slide back to $83 for a little think.

However, as long as our intrepid coin clings to $82, parties and rallies remain on the table. Confetti not included.

Short liquidations: The FOMO flamethrower that could launch LTC to $94 🚀

Coinglass has been busy and, according to their 1-month Liquidation Heatmap, there’s a suspiciously dense collection of short liquidations clustered around $93.5. For those not obsessed with trading jargon, this means price could be magnetically lured there in the coming days. It’s basically like moths and lamplight, minus the existential dread.

Recently, liquidity has gathered steadfastly around $85 and $80. Meanwhile, $94 is busy transforming into the “it” crowd zone for price action. The bottom line? Tiny detour to $85 could happen before Litecoin tries its luck at $94 and beyond. Price going as low as $80 seems as likely as me refusing cake—possible, technically, but so far unproven because the $83 support is essentially the Fort Knox of crypto at the moment.

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2025-05-08 11:31