Litecoin
Litecoin rebounds near $46 as buyers defend ascending trendline support
Litecoin traded around $46 after defending an ascending trendline, with the $47 to $48 resistance range now in focus as on-chain transaction activity rises.
Litecoin bounced near $45.98, gaining approximately 1% over 24 hours, after buyers successfully defended an ascending trendline and reduced recent selling pressure. Market capitalisation stood near $3.56 billion with daily trading volume around $135 million.
Analyst Marcus Corvinus identified a recovery structure following LTC's bounce from channel support. The move carried Litecoin above a short-term descending trendline that had previously restricted rebounds, suggesting sellers had lost control near the lower channel boundary. However, buyers require follow-through before the move develops into a stronger reversal; maintaining the ascending trendline would preserve the sequence of rising support.
Litecoin now faces its immediate test at the $47 to $48 resistance zone, which previously limited upward movement. A sustained close above $48 could convert former resistance into new support and strengthen the recovery structure. Repeated failure near this zone, by contrast, would keep the token inside its broader channel and expose the rising trendline to another test.
Network data pointed to rising transaction activity despite limited price progress over the past four years. A decisive break below the ascending trendline would dissolve the immediate bullish structure and shift focus toward lower support areas, potentially restoring earlier descending pressure.
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