LTC Recovers Swiftly After Overnight Dip
Litecoin (LTC) staged a notable recovery after an overnight sell-off, rising over 2% to reclaim key support levels. The digital asset found strong buying interest around the $91 zone, rebounding to hover near $92.95 in the latest trading session.
Price action ranged from $90.97 to $93.58, reflecting a 2.88% intraday swing.
The initial drop occurred during peak Asian trading hours, where prices fell 1.55% in minutes. However, as U.S. markets opened following a cooler-than-expected U.S. CPI report, traditional and crypto markets alike saw renewed buying.
Market Eyes Potential Litecoin ETF Approval
Traders appear to be positioning for the possible approval of a Litecoin exchange-traded fund (ETF), adding bullish pressure. Analysts have pointed to a 90% probability of approval later this year, suggesting LTC could join Solana as a leading contender in what some are calling “Altcoin ETF Summer.”
A regulated ETF could open institutional access to LTC, potentially driving long-term adoption and price growth.
This speculation has led to increased activity in LTC trading pairs, with midday UTC trading volume peaking at 249,812 tokens exchanged, marking one of the most active periods of the day.
Technical Outlook: Ascending Channel Forming
LTC price behavior is currently showing signs of an ascending channel formation, a bullish structure indicating the potential for further upside if key levels are held.
- Resistance zone: $93.50
- Support zone: $91.00
- High: $93.58
- Low: $90.97
- Current price: ~$92.95
The recovery from the $91 zone demonstrates solid buyer commitment, even after a 3.4% volatility spike during late trading hours.
Support at $91 continues to hold under pressure, with price action rebounding multiple times intraday.
Consolidation above $92 with healthy volume signals that Litecoin could be preparing for a breakout if ETF speculation continues to gain traction.
Conclusion: Key Levels in Focus Ahead of ETF News
Litecoin’s ability to recover from selling pressure and hold above its $91 support zone is a bullish indicator, especially with ETF-related momentum building. Investors and traders should watch the $93.50 resistance closely, as a confirmed breakout could open the door to higher targets above $95.
If the ETF narrative strengthens, LTC may see accelerated capital inflows over the coming weeks.