ETF Hopes Fade as Litecoin Stalls Below Key Resistance Post-Mideast Flare-Up
Litecoin (LTC) struggled to regain momentum this week, falling over 4% despite renewed optimism around a potential spot ETF approval. The broader crypto market was rattled by geopolitical tensions, with Israel’s military strikes on Iran and Tehran’s swift retaliation triggering a flight to safety across global markets.
LTC briefly rebounded from lows near $84, climbing as high as $86.90 before encountering stiff resistance at $97.80 — a technical ceiling aligned with the 23.6% Fibonacci retracement. The rally faltered amid declining volume and weak momentum indicators, including an RSI stuck at 43 and a neutral MACD signal.
Total crypto market capitalization slid by over $150 billion during the sell-off, with Litecoin among the hardest hit. Though ETF speculation remains a bullish backdrop — Bloomberg analysts see a 90% chance of approval — short-term price action suggests consolidation ahead as traders remain risk-averse.
