Litecoin Price Forecast: LTC Sell Pressure Wanes Golden Cross Support Halts $100 Reversal

Litecoin price finds steady support at $110 on Saturday, August 30, with bulls battling to contain weekly losses just below 10%. Sustained profit-taking as the LTC price approached $120, and Bitcoin’s sharp retracement to 50-day lows of $107,000 on Friday, were two key catalysts that sparked bearish action this week.

However, market metrics over the past 24 hours signal a potential directional swing in Litecoin price momentum as bears take caution after failing to break the $110 psychological level.

CoinGlass’ derivatives data shows that LTC futures trading volumes declined 33.8% to $596 million, while open interest remained stable at $917 million. Flattening open interest reflects reluctance to enter new positions, a sentiment reinforced by the significant drop in daily trading volumes.

Liquidation data further emphasizes the cautious stance among short-traders. On a 24-hour basis, long liquidations totaled $496,380, versus $444,120 in shorts, indicating that buyers were still absorbing downside pressure. But momentum shifted in the last 12 hours, with short liquidations at $49,590 more than double long liquidations of $22,120.

This trend indicates bears are closing out positions at a faster rate, signaling a potential market bottoming phase.

If this dynamic persists through weekend trading, bulls could regain momentum and edge prices toward safer levels around $115, to avert the risk of a breakdown below $110.

Litecoin Price Forecast: Can Bulls Stage $115 Rebound as Golden Cross Anchors $109 Support?

Litecoin’s intraday resilience above $109 aligns with the golden cross pattern formed on August 4, where the 5-day moving average crossed above the 8-day and 13-day averages. Aside from signaling the outset of a bullish market cycle, golden crosses also provide anchoring support during short-term sell-offs.

The intraday bottom formation and short traders rapidly closing out short positions could spark an instant recovery toward $115 to $118 price range. However, a decisive breakdown below $109 would invalidate the golden cross signal, exposing Litecoin to a deeper retracement toward $100.

Momentum indicators remain neutral, with RSI hovering at 49, suggesting LTC is neither overbought nor oversold. Sustained buy-side activity around $110 could tilt momentum upward, but a lack of trading volume suggests sideways price action into September is a more likely scenario.

SUBBD Presale Gains Momentum as Litecoin Traders Seek Alternatives

Litecoin’s lacklustre performance this week could prompt traders to begin rotating capital into new innovative projects like SUBBD ($SUBBD) with high upside potential. The newly-launched AI-powered platform for content creators has crossed $1 million in its presale, drawing strong early adoption from retail investors.

At present, SUBBD has raised $1.05 million of its $1.26 million target, with tokens priced at $0.05625. The project aims to transform creator-fan engagement using AI-enhanced utility features, including premium access to influencer-endorsed content, staking benefits linked to exclusive livestreams, and discounts on platform subscriptions.

With limited discounted entry tiers remaining, investors can secure tokens directly through the official SUBBD platform before the presale cap is filled.

next