The price of Litecoin (LTC) increased by more than 7% on Thursday, upgrading the wider index of Gauge Coindesk 20, which climbed approximately 4%.
Bloomberg Senior ETF analyst Eric Balchunas reports that Litecoin Litecoin ETF approval increased 90%, with a decisive deadline of October 2 which could considerably widen the basis of LTC institutional investors and potentially catalyze a significant price assessment.
Strengths of technical analysis
- The LTC-USD presented significant volatility with a range of 7.51% ($ 81.82 to $ 88.03), establishing high support around $ 84.00, according to the Technical Analysis Data model of Coindesk Research.
- The price action has formed an ascending channel with a successful repair of the level of $ 86.00 in the last 48 hours.
- A strong purchase interest appeared during the recovery phase, with an accumulation at key levels of fibonacci.
- The current momentum suggests a potential continuation to a resistance of $ 88.50, with $ 85.50 serving as a validation support.
- In the last 100 minutes of negotiation, the LTC recovered from the range of $ 86 to more than $ 87.19 after formed a higher hollow at $ 86.36.
- Particularly solid purchasing interests took place during 14: 14-14: 17 UTC period when the SLC recovered the psychological level of $ 87.00.
- The last hour has shown an increasing dynamic with highest consecutive and highest highs, closing at $ 87.19 just below $ 87.25 of resistance.
- An bull’s length price structure combined with the drop in sales pressure suggests a potential continuation to $ 88.00 if $ 87.00 in support.
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External references:
- Cryptopolitan, Litecoin Prix Prediction 2025-2031: Will LTC soon get back to $ 200?Posted on April 30, 2025.
- Bitcoinist, Bitcoin approaches Golden Cross while the MVRV report creates a momentum – is a break to come?Posted on April 7, 2025.
- Invezz, Solana and Litecoin ETF approval ratings are very high, explains Bloomberg Balchunas analystPosted on April 30, 2025.
- Bitcoinworld, Litecoin ETF and Solana ETF ONDDS GROCKING APPROVAL: Bloomberg Analysts Amazing 90% chancePosted on April 30, 2025.
- Coinpedia, Litecoin, Solana, XRP among the best crypto ETF fixed for the approval of 2025Posted on April 30, 2025.
