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Litecoin Rebounds, Holds Firm Near $93 on Potential ETF Positioning
Analysis suggests market participants may be positioning for a potential litecoin exchange-traded fund (ETF) approval.
What to know:
- Litecoin staged a swift recovery after an overnight sell-off, rising more than 2% and reaffirming support near the $91 mark.
- Analysis suggests market participants may be positioning for a potential litecoin exchange-traded fund (ETF) approval.
- Litecoin's price action is currently forming an ascending price channel, with resistance near $93.50 and support consolidating around $91.
In this article
Litecoin
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.
STORY CONTINUES BELOW
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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.
CD Analytics
CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk's AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk's approach to AI-generated content in our AI policy.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
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