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Litecoin Rebounds, Holds Firm Near $93 on Potential ETF Positioning
Analysis suggests market participants may be positioning for a potential litecoin exchange-traded fund (ETF) approval.
Jun 11, 2025, 3:59 p.m.
What to know:
- Litecoin staged a swift recovery after an overnight sell-off, rising more than 2% and reaffirming support near the $91 mark.
- Analysis suggests market participants may be positioning for a potential litecoin exchange-traded fund (ETF) approval.
- Litecoin's price action is currently forming an ascending price channel, with resistance near $93.50 and support consolidating around $91.
Litecoin recovered from am overnight sell-off, rising more than 2% and reaffirming support near $93. The bounce coincided with gains in traditional markets after a cooler-than-expected U.S. CPI report.
The digital currency slipped after midnight UTC, losing ground from a $93.58 peak, before attracting buy-side interest that helped stabilize the price around $91.
STORY CONTINUES BELOW
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Analysis suggests market participants may be positioning ahead of a potential litecoin exchange-traded fund (ETF) approval. Bloomberg analyst James Seyffart has assigned a 90% probability of such approval later this year, placing LTC alongside Solana's sol as leading candidates in a possible “Altcoin ETF Summer.”
Technical Analysis Overview
Litecoin’s price action ranged from $90.97 to $93.58 over the past 24 hours, a 2.88% swing, according to CoinDesk Research's technical analysis data model. The steepest drop came during peak Asian trading hours, when the price fell 1.55% in minutes before catching support at $91.
As traders in the Americas woke up, high-volume buying pushed LTC back toward $92. The most intense trading came around midday UTC, with 249,812 tokens changing hands and fueling a sharp recovery.
An ascending price channel appears to be forming, with resistance near $93.50 and support consolidating around $91. Volatility spiked again with a 3.4% drop, though prices stabilized soon after, suggesting the $91 floor is holding under pressure.
LTC is now hovering near $92.95, showing signs of steady recovery.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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