“Growing Expectations surrounding the Potential Launch of A Spot Litecoin Exchange-Traded Fund Have Helping Ltc’s Price.”, – WRITE: www.coindesk.com
Rallied More than 2% on Monday, Gaining Gund as Investors Eye a Possible Spot Exchange-Traded Fund (ETF) Approval and Navigate a Shaky Geopolitic Backdrop.
LTC Rose from $ 85.05 to $ 88 in A 24-HOUR PERIOD, an Uptrend Marked by Higher Lows and Heavy Volume. The Rise Coincides with Growing Expectations that US Securities and Exchange Commission (SEC) Could Greenlight A Spot Etf Giving Investors Exposure to Ltc.
Accorging to Bloomberg etf Analysts Eric Balchunas and James Seyffart, The Odds of Such An Approval Now Stand at 90%, While Traders on Polymarket Are Weighting A 76% Chance.
Meanwhile, Whales, Wallets Holding Large Sums, Have Increated Their LTC Holdings From 25.8 Million to 27.8 Million Tokens Since Mid-April, Accorinding to Blockchain Firm FIRM FIRM FIRM.
Technical Analysis OverViewLitecoin’s Price Action Over The Past 24 Hours Shows a Potential Bullish Reversal, Accounting To Coindesk Research’s Technical Analysis Data Model.
It Rise Was Marked by a pattern of Higher Lows and Higher Highs, Onthen Associated with Growing Demand, While Significant Trading Activity Accompanied Each Leg Up. Spikes in Volume, Well Above Daily Aves, Suggest Steady Institutional Interest Racher Than Sporadic Retail Enthusiasm.
Support Emerged Near the $ 86.50 Range, WHERE Buyers Stepped in repeatedly, and resistance near $ 87.80 Was Eventual Broken Following a concentrated Surge in Trades, Access.
Three Distinct Buying Waves Pushed LTC Past Resistance Levels. Durying One Burst Alone, Nearly 28,000 Tokens Changed Hands, Helping Turn Previus Resistance Into A New Support Floor Just Above $ 88.
Selling Pressure Tapered Off Following the Move.
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