Litecoin Holds Firm as Market Eyes ETF Approval Amid Global Tensions
Litecoin (LTC) shrugged off early weakness on Tuesday, ending the session with a 1.6% gain as prices climbed past $84.60 after briefly sinking to $82.69.
The recovery unfolded against a backdrop of global market unease fueled by escalating conflict between Israel and Iran. Concerns about potential U.S. military involvement persist, with Polymarket traders assigning a 62% likelihood of action before the month concludes.
Despite the broader market nerves, Litecoin managed to rally back, testing resistance near $85.60, according to CoinDesk Research’s technical indicators.
Traders are closely following the U.S. Securities and Exchange Commission’s review of spot Litecoin ETF proposals. Data from Polymarket suggests a 76% chance that an ETF approval will materialize this year, adding optimism to LTC’s outlook.
Technical Snapshot:
- Litecoin finished Tuesday with a 1.6% daily gain, rebounding from a session low of $82.69 to settle around $84.88, while the CoinDesk 20 (CD20) index slipped 0.5%.
- Key support has formed in the $83.48–$83.57 range, buoyed by increased buying volume that helped stabilize prices amid volatility.
- Although LTC remains capped by resistance between $85.60 and $85.67, it has carved out an ascending channel pattern, signaling steady bullish momentum driven by a series of higher lows.
Litecoin’s ability to rebound during macro uncertainty, combined with hopes for regulatory breakthroughs, highlights its resilience as traders look ahead to potential ETF developments.
