Litecoin (LTC) is trading at $112, marking a slight gain of around 2% in the last 24 hours; however, it remains down over the past week and month. With the altcoin approaching a critical support level, traders are keeping a close eye on whether bulls can fend off incoming pressure from sellers.
Current Market Analysis for Litecoin
- Litecoin is currently priced at approximately $112, reflecting a minor daily increase, yet it has suffered losses over the week and month.
- Trading volume has dropped significantly by over 22% to $694 million, as major altcoins search for a rebound.
- The price is testing a key support level at $110, raising questions about whether it can hold firm or will drop below the psychological barrier of $100.
The move below the midline of an ascending channel model suggests that a broader cryptocurrency pullback could hasten LTC’s decline towards $100, and potentially down to $90. Technical indicators on the daily chart point to a probable downturn, with the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) favoring sellers.
Price Predictions: Is Litecoin Heading Towards $90?
The current Litecoin price indicates a vulnerability as it has fallen below the midpoint of an ascending channel. Should the broader crypto market retrench, this could lead LTC towards critical support levels at $100 and possibly even $90.
Although open interest has slightly dropped to $994 million, it’s still notably above the lows of $800 million observed earlier in August. A move above $120 may grant bulls a chance to challenge the upper channel barrier around $140, aiming for the significant psychological milestone of $200.
The MACD indicator has shown a bearish crossover since mid-August, with histogram bars in red. However, mixed signals from other indicators suggest some resilience. For instance, the RSI is currently at 46 and on the rise, indicating that buyers might stave off a further decline into the oversold territory. If the RSI passes the neutral line of 50 while market conditions favor positivity, then an upward move for LTC may be achievable.
What Factors Could Boost Litecoin’s Price?
Network growth, highlighted by a notable uptick in the hash rate, reflects confidence in the proof-of-work currency. Moreover, market sentiment indicates a scenario where bulls could capitalize on an overall cryptocurrency surge in the coming months.
The anticipated approval of spot ETFs, with Litecoin being among those with significant chances for approval, bolsters this outlook further. Decisions by the SEC in October 2025 regarding spot Litecoin ETFs from Grayscale, Bitwise, and CoinShares, which have a 90% probability of approval according to Bloomberg analysts, could serve as major catalysts.
Experts believe that SEC approval for spot LTC ETFs could lead to institutional inflows of up to $500 million at launch, potentially charting a path similar to the one that propelled Bitcoin to new heights early in 2024.
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