Litecoin (LTC) experienced a notable increase, climbing 2.1% and surpassing the $90 resistance level. This surge occurs as global financial markets are facing rising geopolitical tensions and evolving macroeconomic conditions. In early trading, LTC momentarily exceeded the critical $90 mark but retreated slightly afterward, yet the overall trend appears positive due to a pattern of higher lows. The backdrop of this movement includes President Trump's recent tariffs, creating additional uncertainty in the market, alongside inflation in the eurozone falling below the European Central Bank's target. This decrease has led to speculation about potential rate cuts, possibly renewing interest in risk assets.
From a technical analysis perspective, Litecoin shows a stable base, as indicated by CoinDesk Research's data model. Support appears solid around $87.90, which has been confirmed by volume spikes at significant trading intervals. Traders have observed a double top formation around $89.60, followed by a brief selloff that dropped the price to $89.20 before buyers stepped in. The session concluded with a price consolidation at $89.32, suggesting that the market is in a digestion phase regarding recent activity. If support holds, Litecoin could continue to attempt to maintain levels above $90 in the near future.
From a technical analysis perspective, Litecoin shows a stable base, as indicated by CoinDesk Research's data model. Support appears solid around $87.90, which has been confirmed by volume spikes at significant trading intervals. Traders have observed a double top formation around $89.60, followed by a brief selloff that dropped the price to $89.20 before buyers stepped in. The session concluded with a price consolidation at $89.32, suggesting that the market is in a digestion phase regarding recent activity. If support holds, Litecoin could continue to attempt to maintain levels above $90 in the near future.
