Litecoin (LTC) is currently trading at $83.89, reflecting a slight decrease of 0.99% over the past 24 hours. The daily price range has remained tight, between a low of $83.28 and a high of $85.20, indicating reduced volatility as traders await further price direction.

Volume over the past 24 hours stands at approximately $365.72 million, representing a volume-to-market cap ratio of 5.69%. This suggests that trading activity is healthy, although the minor price decline indicates potential resistance near the recent high levels.

The short-term moving averages (8, 13, and 21 SMA) are all indicating negative trends, with prices slightly below these averages, suggesting bearish momentum. In contrast, the longer moving averages (55 and 144 SMA) also reflect downward trends, reinforcing the sentiment of weakness in the current price action.

The 1-hour RSI is positioned at 29, indicating that LTC is nearing oversold territory, which could suggest a potential bounce in the short term. However, the 7-day RSI at 50 indicates that momentum is neutral, while the 14-day and 30-day price changes of -17.61% and -9.10% respectively highlight a broader negative trend over the longer term.

Given the current technical indicators and the bearish sentiment reflected in the moving averages, LTC appears to be under selling pressure. Despite the short-term oversold condition indicated by the 1-hour RSI, the prevailing trend and lack of bullish confirmation suggest that further downside could be possible.

Overall, the combination of bearish technical signals and negative price momentum leads to a cautious outlook for Litecoin. Therefore, the recommendation is to Hold, as potential short-term gains may not outweigh the risks associated with the current bearish trend.