Litecoin (LTC) is currently trading at $84.23, reflecting a slight decline of 0.65% over the last 24 hours. The daily trading range has been limited, with a high of $86.55 and a low of $84.04, indicating low volatility with a daily range of 2.51%.

The volume over the past 24 hours stands at approximately $570.84 million, contributing to a volume-to-market cap ratio of 8.85%. This suggests a moderate level of trading activity relative to its market capitalization, which may indicate investor caution in the current market environment.

Technical indicators show bearish momentum, with the 1-hour RSI at a low 26, suggesting oversold conditions. The short-term moving averages (8 SMA at $85.22 and 13 SMA at $85.58) are also indicating downward pressure, as they are all trending below the current price and reflecting negative percentages.

Conversely, longer-term moving averages such as the 55 SMA ($83.59) and 144 SMA ($82.61) are showing slight positive trends, indicating potential support levels. Despite the current weakness, the 7-day RSI at 49 suggests that LTC is in a neutral position, potentially setting the stage for a reversal if buying interest materializes.

From a fundamental perspective, Litecoin has significantly retraced from its all-time high of $410.26 in May 2021, demonstrating a loss of over 79% from that peak. The recent price action, coupled with a consistent decline over the last 14 days (down 9.09%), reflects ongoing bearish sentiment in the market.

Considering the current technical indicators and fundamental factors, the outlook for Litecoin suggests a cautious approach. Given the oversold conditions indicated by the 1-hour RSI and potential support at the longer-term moving averages, a rating of Hold is warranted. This allows investors to reassess their positions without incurring additional losses in the current market instability.