Litecoin (LTC) is currently trading at $83.58, experiencing a 24-hour decline of 2.42%. The daily trading range indicates volatility, with a high of $86.55 and a low of $82.51, reflecting a daily range of 4.04%.

Trading volume stands at approximately $602.98 million, which constitutes 9.42% of Litecoin's market cap, suggesting moderate trading activity. The short-term moving averages are predominantly bearish, with the 8 SMA at $84.23 and the 13 SMA at $84.77, both showing declines, while the longer-term 144 SMA at $82.56 indicates a potential support level.

The 1-hour RSI is critically low at 22, indicating strong oversold conditions in the very short term, while the 7-day RSI is at 49, showing a neutral stance overall. Price changes over the past week and two weeks are negative at -4.24% and -3.78%, respectively, suggesting a bearish trend in the short to medium term.

Despite a slight uptick in the 30-day price change of 0.08%, the overall trend remains downward since the recent all-time high of $410.26 in May 2021. Market sentiment appears cautious, with the recent decline in price and relative weakness in the RSI indicators contributing to a bearish outlook.

Given the current technical indicators and the bearish trend over the short and medium term, a "Hold" rating is warranted. Investors should observe for signs of a reversal or stabilization around the support level of $82.56 before considering new positions or adjustments.