Litecoin ended last week with a 2.28% drop and is currently down 2.25%, trading at $63.38. The bearish trend persists, with LTC struggling to break the overhead trend line and falling within a daily falling channel pattern. A recent 5.40% drop over two days, combined with resistance from the 50-day EMA, has led LTC back to a support level of $61.88.

Despite the decline, Litecoin shows a bullish attempt to reverse. The 4-hour chart reveals a bullish divergence in the RSI, hinting at a potential positive cycle. Currently, 13.2 million LTC tokens are "in the money," but 97.19% of holders are facing losses. Smallholders have exited, marking the largest drop in two years.

If Litecoin can break the 50-day EMA or the overhead trendline, a bull run could follow. With significant volume in the $63.78 to $67.61 range, LTC might target $78 or $84 next month, potentially reaching $100 by the end of 2024, depending on broader market recovery.