Litecoin Price Analysis: LTC retraces back to $165, set to slowly reverse today?

TL;DR Breakdown Litecoin price analysis is bullish for today.LTC/USD continued consolidating above $165 overnight.Litecoin is ready for a reversal. Litecoin price analysis is bullish today as the market has consolidated around the $165 support overnight after a substantial decline earlier this week. Therefore, we assume LTC/USD will reverse over the next 24 hours and look to regain some of the loss. Cryptocurrency heat map. Source: Coin360 The overall market trades with a slightly bullish momentum over the last 24 hours. The market leaders, Bitcoin and Ethereum, are both up around 0.7 percent. Solana (SOL) is the best performer, with a gain of 23.9 percent. Litecoin price movement in the last 24 hours: Litecoin still holds above $165 support LTC/USD traded in a range of $165.40 – $172.31, indicating mild volatility over the last 24 hours. Trading volume has increased by 37 percent and totals $2.42 billion, while the total market cap trades around $11.28 billion, ranking the coin in 15th place overall. LTC/USD 4-hour chart: LTC set to reverse from the $165 support?  On the 4-hour chart, we can see the Litecoin price preparing to reverse higher as the $165 mark has offered strong support. LTC/USD 4-hour chart. Source: TradingView Litecoin price action has seen an increase of over 80 percent from the previous swing low of $105. However, further upside could not be reached over the last weekend, with only a slightl...