Litecoin Rebounds, Holds Firm Near $93 on Potential ETF Positioning

0

BEĞENDİM

ABONE OL

News

0

Litecoin LTC recovered from am overnight sell-off, rising more than 2% and reaffirming support near $93. The bounce coincided with gains in traditional markets after a cooler-than-expected U.S. CPI report.

The digital currency slipped after midnight UTC, losing ground from a $93.58 peak, before attracting buy-side interest that helped stabilize the price around $91.

Analysis suggests market participants may be positioning ahead of a potential litecoin exchange-traded fund (ETF) approval. Bloomberg analyst James Seyffart has assigned a 90% probability of such approval later this year, placing LTC alongside Solana’s sol SOL as leading candidates in a possible “Altcoin ETF Summer.”

Technical Analysis Overview

Litecoin’s price action ranged from $90.97 to $93.58 over the past 24 hours, a 2.88% swing, according to CoinDesk Research’s technical analysis data model. The steepest drop came during peak Asian trading hours, when the price fell 1.55% in minutes before catching support at $91.

As traders in the Americas woke up, high-volume buying pushed LTC back toward $92. The most intense trading came around midday UTC, with 249,812 tokens changing hands and fueling a sharp recovery.

An ascending price channel appears to be forming, with resistance near $93.50 and support consolidating around $91. Volatility spiked again with a 3.4% drop, though prices stabilized soon after, suggesting the $91 floor is holding under pressure.

LTC is now hovering near $92.95, showing signs of steady recovery.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.