Litecoin (LTC) price continued its decline on October 17, with the token's gains from early within the day quickly turning right into a decline against bearish pressure. LTC price continued to trade near $90 after repeated failures to initiate a move towards $100. LTC bulls did not push the token higher as market participants waited for clarity on the expected ETF decision.
Analysts outline conflicting Litecoin setups amid ETF speculation. Key technical levels define the token’s next move
Despite the weakness, analysts resembling Pelin Ay and Minimilian maintained their long-term bullish stance, describing Litecoin's structure as a year-long accumulation phase that’s approaching a possible breakout stage.
Analysts outline conflicting Litecoin setups amid ETF speculation
XForceGlobal described Litecoin's ongoing structure as the ultimate unrolled phase of a multi-year accumulation pattern.
Contributing to XForceGlobal's LTC price evaluation. Source: X
The analyst shared a chart showing a symmetrical triangle over nearly seven years, suggesting that LTC had been preparing for an explosive move. The post identified a long-term support base near the $65 level and highlighted that a sustained breakout above $120 could mark the beginning of a serious cycle expansion.
Pelin Ay, meanwhile, approached the setup from a shorter timeframe, linking the value motion to the upcoming ETF ruling.
Pelin's contribution to Litecoin price evaluation. Source: X
Ay's evaluation suggested that if Litecoin fails to carry $90, which coincides with the following visible support band, the token could slide towards $76. The analyst noted that an ETF approval could quickly reverse sentiment and push LTC price back towards $140. Pelin's forecast followed a Fibonacci-based retracement model and showed an initial decline before a rebound towards the upper resistance zone.
Minimilian reiterated the broader bullish outlook, stating that Litecoin stays in a long-term uptrend inside a narrowing wedge pattern.
Analyst's contribution to LTC price prediction. Source: X
The analyst's chart showed a tightening structure with rising lows since 2022, suggesting an upward compression before a vertical breakout. The setup reflected XForceGlobal's perspective, but focused more on the structural timing of a possible move quite than immediate catalysts.
Crypto Lama offered a special interpretation with the Litecoin Rainbow indicator. Lama noted that LTC's current position near the lower bands historically indicates undervaluation zones that precede a rally. The chart reflects repeated tests of the center channels, suggesting that Litecoin could attempt one other cyclical advance if it maintains stability above the lower blue zone.
Key technical levels define the token’s next step
This background met a chart that was still anchored at clear levels. Litecoin held above immediate support at around $87, with an extra cushion at around $78.
The immediate resistance was around $101. The price closed below the 20-, 50-, 100- and 200-day EMAs, which were just under $105, adding to the overhead supply.
LTC USD day by day price chart. Source: X
Flipping the immediate resistance would help the LTC-USD pair goal the resistance near $104. A decisive day by day close above this band would then pave the technique to the following resistance near $111. Failure to reclaim the $101 level would keep the bears on top of things and preserve the low-high sequence.
Volume confirmed the stress test. The visible range profile showed the strongest participation within the mid-90s, which is consistent with the present exodus and explains the continued intraday rejections.
The structure remained balanced but fragile. As long as Litecoin stayed above $87, the bulls maintained a working base with clear risk lines across the $78 area. A break below these floors would result in a trend acceleration and negate any short-term recovery attempts. Conversely, consecutive closes above $101 and $104 would neutralize the decline and shift the trend towards $111.
Additionally, a move to $104 would signal an improvement within the breadth of the EMAs. However, only a push to $111 would complete a reputable momentum reset and revive the larger accumulation narrative laid out by analysts.
Disclaimer: The above evaluation reflects the creator's personal market assessments and is for informational purposes only. It shouldn’t be considered financial or investment advice. Readers must conduct their very own research or seek the advice of a licensed advisor before making any investment decisions. The creator or CoinChapter are on no account answerable for any losses incurred because of this of implementing this evaluation. The creator may own Bitcoin, Ethereum or other cryptocurrencies.
