$LTC ‌$LTC ‌LTC has just hit a wall. Is this a true rebound or another trap?

Litecoin experienced a sharp drop and is now trading around $59. The decline was rapid, and emotions are running high again. This is often when traders make hasty decisions. Let’s take a moment to slow down and analyze the chart clearly.

Current Market Structure (1H)
LTC is still in a short-term downtrend. The price has fallen sharply from the $70 zone and has broken through several support levels on the way down. Currently, the price is trying to stabilize after bouncing from $54.8 up to the $55 zone. This rebound exists, but it’s not strong enough to indicate a trend reversal. For now, sellers still hold the upper hand.

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

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

These levels are based on actual reactions, not assumptions.

Bullish Scenario (Only if this happens)
LTC stays above $57.
The price forms higher lows on the 1H chart.
Breaks and stays above $62.
If this occurs, a rebound toward $68 to $70 is possible. However, it would only be a relief bounce, not a full trend reversal.

Bearish Scenario (Risks Still Present)
LTC drops below $57.
A weak rebound is rejected below resistance.
The price revisits $55 or even lower.
Below this zone, the risk of further decline opens up again.

Final Thoughts
LTC appears oversold, but being oversold doesn’t mean it’s bullish. It’s a decision zone, not a place for blind entries. The chart will confirm the next move—patience is key here.

Do you think LTC can retake $62, or is this rebound just another bullish trap?