Litecoin (LTC) has experienced a significant drop of over 12% in the past 24 hours, currently being traded at around $100 with its market cap falling to $7.5 billion. The sudden decline is a result of escalating selling pressure, causing LTC's Relative Strength Index (RSI) to plunge into oversold territory and Chaikin Money Flow (CMF) to dip further into negative territory.

In the event that the downtrend persists, LTC may challenge the $92.5 support level and could potentially sink to $80, marking its lowest price since November 2024. Nevertheless, if there is a shift in momentum, LTC might make an effort to recover, surpassing the $100 mark and targeting resistance levels at $106, $111, and conceivably $119.

Litecoin's RSI is currently sitting at oversold levels, standing at 26.7, indicating intense selling pressure and a possible approaching reversal. Despite the risk of further downside, the low RSI suggests a potential short-term bounce.

Meanwhile, Litecoin's Chaikin Money Flow has fallen below -0.20, showcasing a significant capital flow shift with increased selling pressure. This trend signifies a lack of support for any short-term rebounds unless there is a resurgence of buying volume.

As LTC faces the risk of falling below $90, it is crucial for buyers to intervene to defend support levels, considering the bearish pressure indicated by RSI and CMF. A reversal in the current trend could enable LTC to break above $100, paving the way for resistance levels at $106, $111, and potentially $119.