- Litecoin is trading near $56 with short-term bullish momentum, but must reclaim $57 to strengthen the uptrend.
- The LTC/BTC pair is showing relative strength, which could support further upside if Bitcoin dominance declines.
- Despite recent gains, LTC remains below major moving averages, and MACD indicators suggest selling pressure still dominates.
Litecoin is flashing mixed signals as February 21 unfolds. On one hand, there are signs of life, small bursts of strength that suggest buyers haven’t disappeared. On the other, selling pressure hasn’t exactly backed off either. It’s that awkward middle ground where momentum tries to build, but resistance keeps tapping the brakes.
At the time of writing, LTC is trading around $55.96, up 2.63% over the past 24 hours. Trading volume sits near $755 million, with a market cap of roughly $4.24 billion. Those numbers show activity, real activity. But in a broader market that still feels uncertain, gains like this can either expand quickly or fade just as fast.
Bullish Hints From LTC/BTC Pair
Crypto analyst CRYPTOWZRD pointed out a bullish setup developing in the LTC/BTC pair. Litecoin gained ground against Bitcoin during the session, which often hints at rotation into altcoins. If LTC/BTC continues climbing, it could give Litecoin the extra push it needs on the USD chart.
The key level being watched is $57.00. Holding above that intraday resistance would strengthen the bullish case. Even a brief pullback followed by a strong reversal could present an opportunity for continuation higher. The daily candles for both LTC and LTC/BTC closed firmly green, suggesting buyers are still engaged.
There’s also the broader factor of Bitcoin Dominance. If dominance drops, altcoins like Litecoin tend to benefit. In that scenario, analysts see potential for a move toward $68. But right now, Litecoin is stuck around the $56 zone, and traders are closely watching weekend price action for confirmation. The setup looks constructive, though not fully confirmed.
Bearish Pressure Still Lingers
Despite the recent bounce, the technical backdrop isn’t fully supportive. At one point, LTC was trading closer to $55.03, and the Relative Strength Index sat near 30.10, brushing the oversold zone. That reading reflects weak momentum, even if the RSI moving average at 36.74 hints at slight improvement.
The bigger issue is positioning relative to key moving averages. Litecoin is trading well below its 20 SMA at $80.12, 50 SMA at $91.18, 100 SMA at $89.13, and 200 SMA at $81.53. That’s a heavy gap. When price sits beneath all major moving averages like this, the broader trend is hard to call bullish.
MACD adds to the cautious tone. The MACD line is at -11.62, sitting below the signal line at -8.53, and the histogram remains negative at -3.09. In simple terms, sellers still have an edge. Litecoin may be trying to build a base, but until it reclaims $57 and pushes toward higher resistance zones, the upside case remains fragile. Not broken, but fragile.
