Litecoin Stays Rangebound as Market Awaits Confirmation of Golden Cross and Potential ETF Boost
Litecoin (LTC) has remained mostly rangebound over the past 24 hours, holding steady after retreating from its recent two-week high above $88. Currently, LTC is trading in the $85–$87 zone, with buying interest emerging on dips and sellers stepping in around the $87 resistance mark.
Technical indicators are pointing to a potential “golden cross” pattern, where the 50-day moving average rises above the 200-day moving average. Traders typically see this formation as a sign of possible sustained upward momentum. However, analysts from CoinDesk Research caution that LTC needs a firm breakout above $87 to signal a confirmed shift toward a bullish trend.
The broader crypto market has shown minimal volatility, with the CoinDesk 20 (CD20) index slipping just 0.25% in the last 24 hours.
ETF Optimism Lifts Sentiment
Investors remain hopeful about Litecoin’s prospects. Bloomberg analysts recently raised the likelihood of the U.S. Securities and Exchange Commission approving spot exchange-traded funds (ETFs) for XRP, Solana, and Litecoin to 95% by year-end. Meanwhile, traders on prediction platform Polymarket currently peg the odds at 86%.
Such an ETF approval would make it far easier for traditional investors to access Litecoin through standard brokerage accounts, potentially sparking new demand and enhancing liquidity in LTC markets.
Technical Details
Over the past day, Litecoin traded within a relatively tight $2.09 range, equivalent to a 2.46% price swing, as traders tested both support and resistance levels. Sellers have frequently appeared between $86.65 and $87.10, driving elevated trading activity in that region.
On the downside, buyers have consistently defended support around $85.02–$85.23, creating a firm base during midday trading on July 1.
Although the overall 24-hour chart shows a pattern of lower highs following a downward-sloping trendline, shorter time frames suggest budding strength. Earlier today, LTC bounced from $85.22 to $85.59, a modest gain of 0.43%. The move coincided with a spike in trading volumes above 5,500 LTC per minute, helping the price push through minor resistance at $85.50.
Additional buying support was evident between $85.03 and $85.18 during the same hour. Paired with an emerging ascending channel showing higher lows, these signals hint that LTC may be positioning for another upward attempt, despite broader market caution.
