$LTC ‌LTC Just Hit a Wall. Is This a Real Bounce or Another Trap?

Litecoin has taken a sharp drop and is now trading around $59. The fall was quick, and emotions are high again. This is a time when traders often make rushed decisions. Let’s slow down and examine the chart clearly.

Current Market Structure (1H)
LTC is still in a short-term downtrend. The price dropped hard from the $70 area and broke multiple supports on the way down. Right now, the price is trying to stabilize after bouncing from the $54.8 to $55 zone. This bounce exists, but it is not strong enough to indicate a trend change. For now, sellers still have the upper hand.

Key Levels That Matter
Resistance Zones
$62 to $63 → Previous support, now resistance
$68 to $70 → Major supply zone (strong sell pressure before)

Support Zones
$57 to $58 → Short-term reaction area
$54 to $55 → Strong demand zone (recent low)

These levels are based on actual reactions, not assumptions.

Bullish Scenario (Only If This Happens)
LTC holds above $57.
Price forms higher lows on the 1H chart.
Break and hold above $62.
If this occurs, a recovery move toward $68 to $70 is possible. Still, that would be a relief bounce, not a full trend reversal.

Bearish Scenario (Still a Risk)
LTC loses $57.
Weak bounce gets rejected below resistance.
Price revisits $55 or even lower.
Below that zone, downside risk opens again.

Final Thoughts
LTC looks oversold, but being oversold does not mean it is bullish. This is a decision zone, not a spot for blind entries. The chart will confirm the next move—patience matters here.

Do you think LTC can reclaim $62, or is this bounce just another bull trap?