Litecoin follows Bitcoin’s momentum, but resistance appears at $79.60.

Litecoin (LTC) ended the day on a strong note, closely tracking Bitcoin’s overall market sentiment, according to CryptoWzrd’s daily update. A stay above $75.20 will keep the outlook positive, but a drop below this level could indicate bearish pressure. Conversely, a retest of $79.60 resistance along with bearish signs could present a potential short selling opportunity.

Litecoin closes Bitcoin’s momentum each day.

According to CryptoWzrd analysis, Litecoin’s daily candle and the LTC/BTC ratio both closed in a bullish direction today, largely reflecting the positive sentiment established by Bitcoin. However, the analyst warned that the LTC/BTC pair would need to continue printing more bullish daily candles from its current position to confirm a sustained bullish reversal.

CryptoWzrd emphasized that Litecoin’s overall movements are still closely tied to Bitcoin’s general market sentiment. For Litecoin, the immediate key to maintaining a favorable outlook is maintaining it above the $80 level. This price range is important as it keeps the asset firmly in positive territory and above important support levels.

Conversely, the analyst warned that a decisive break and close below the $80 support level would immediately turn the outlook bearish. Such a failure would likely validate further downside, targeting the next important support level expected to be around $68. So this $80 mark is the structural line that separates positive and negative momentum.

Given the weekend, analysts’ immediate trading focus will shift to lower timeframe charts in search of quick scalp opportunities for the next day. Despite these tactical changes, he advises maintaining reasonable expectations, acknowledging that low-liquid weekend sessions often limit decisive moves and require caution.

Intraday volatility sets the stage for key trades

CryptoWzrd added his analysis by noting that LTC’s intraday chart is very volatile, requiring a calculated approach to entries. He outlined a clear, positive scenario if the price successfully retests the key $75.20 support level and then follows it up by printing a prominent bullish reversal pattern.

However, the analyst pointed out that a clear break below the $75.20 support would invalidate the bullish hopes and signal a continuation of the near-term trade. Another scenario includes a rally to test the $79.60 resistance level, where a clear bearish reversal pattern would confirm rejection and trigger a short-term entry.

Essentially, this strategy relies on waiting for price to confirm direction at a defined boundary. CryptoWzrd concluded by advising traders to be patient and wait for the next mature trading opportunity to fully unfold and validate the intended direction before confirming a position.