Litecoin Price Struggles at Key SMA Level

Litecoin (LTC) is currently trading at $50.22, stuck just below its 200-day Simple Moving Average (SMA) of $50.64.

The price action is precarious, with a 2.84% drop in the last session, but the chart signals that sellers are dominant in the short term. The MACD histogram has flattened to zero, indicating that the previous bullish momentum hasn't been lost, only paused.

Derivatives data reveals that smart money is quietly accumulating long positions, despite retail being heavily long as well. Open interest surged 5.45% in 24 hours on a day when price fell 2.84%, signaling new capital coming into the market.

The critical zone for LTC's price action lies between $49.11 and $51.66, with key resistance at $50.64. A clean close above this level could trigger a bull run to $53.11 or even higher, while a breakdown below $49.11 would invalidate the bull thesis.