Litecoin (LTC) has seen a rebound, recovering more than 2% to stabilize near $93 after a sell-off. This recovery aligns with gains in traditional markets following a lower-than-expected U.S. CPI report. The digital currency's price fluctuated from a peak of $93.58 to a low of $90.97 over the past 24 hours, before being buoyed by buying activity, particularly as traders in the Americas began their day. Bloomberg analyst James Seyffart has suggested a 90% chance of a Litecoin ETF approval within the year. LTC is considered one of the frontrunners for this potential approval, alongside Solana. As of now, LTC is holding around $92.95, showing signs of recovery after hitting support at $91. An ascending price channel may be forming, with resistance near $93.50. Despite experiencing a brief volatility spike, indicators suggest the supportive floor at $91 is holding steady.
Litecoin Recovering Around $93 Amid ETF Speculation
Litecoin's price has rebounded over 2%, stabilizing near $93 as traders anticipate potential ETF approvals, with solid buying support observed.
Jamie Bennett
Crypto Analyst
5 min read
23,054
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
LTC
LTC
BUY
Entry Price
$92.95
Confidence
80%
Stop Loss
$90
Take Profit
$95 - $98
Despite recent volatility, the news about ETF positioning and bullish momentum makes this a favorable buying opportunity.
