“Technical Analysis Suggests a Potential “Golden Cross” Pattern, Whoth Could Precede a Multi-Week Rally.”, – WRITE: www.coindesk.com
Has Traded SideWays Over The Last 24-Hours, After Coming Down from A Two-Week High Above The $ 88 Mark. The Token Has Been Bouncing Between $ 85 and $ 87 in Today’s Trading SESSION, UNDERLINING A TUG-OF-OF-War Between Dip-Buyers and Selers Who Treat $ 87 As A Celing.
Charts Hint at A Looming “Golden Cross,” The Moment A 50-Day Moving AVERAGE CLIMBS ABOVE The 200-Day Line, Accounting To Coindesk Research’s Technical Analysis Data Model.
The Pattern offen precedes Multi-Week Rallies, Yet Momentum Remains Weak Until Bulls Punch Through $ 87. The Wider Crypto Market, as Measured by the Coindesk 20 (CD20) Index, Droped Just 0.25% Over The Last 24 Hours.
Future Prospects Tell a Bright Story. Bloomberg Analysts on Monday Raised The CHANCE THAT The Securities and Exchange Commission Will Green-Light Spot Exchange-Traded Funds for Xrp, Solana and Litecoin to 95 86%.
The Approval Willd Give Mainstream Investors a Simple Way to Own Ltc Through Brokerage Accounts, Potentally Broading Demand.
Technical Analysis OverViewOver The Past 24 Hours, Litecoin’s Price Swung Through A $ 2.09 Range, Equal To A 2.46% MOVE, AS TRADERS TESTED BOTH SUPPORT AND REASISTANCE Levels. Selers stepped in forcefully around $ 86.65 to $ 87.10, A Zone ConfirMed by a Surge of High-Volume Selling.
Yet Buyers have repeatedly defended the area Between $ 85.02 and $ 85.23, WHICH ACATED As a Floor During Midday Trading on July 1.
While The Broader 24-Hour Chart Sketches a Bearish Tone, Marked by Lower Highs That Trace A Descending Trendline, Shorter Time Frames Hint at Brewing Optimism.
Litecoin Earlier Began to Recover, Climbing Modestly from $ 85.22 to $ 85.59, A 0.43% Increase. The Rally Gained Traction Durying A Brief Windows, WHEN BUYING VOLUME SPIKED PAST 5,500 TOKENS per minute, Helping Ltc Break Above A Minor Resistance AT $ 85.50.
Another Pocket of Support Surfaced Between $ 85.03 and $ 85.18 During the Same Hour.
Combined with a short-term ascending Channel Showing Higher Lows, The Pattern Suggests That Despite Bigger-Picture Caution, Ltc Could Be Staging An Attempt at Upward Momentum.
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.
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.
