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The world of cryptocurrencies is abuzz with the potential arrival of a new Exchange Traded Fund (ETF): the Litecoin ETF. Championed by Litecoin founder Charlie Lee, the proposed ETF is aiming to gain the coveted approval from the US Securities and Exchange Commission (SEC).
Following this month’s global market meltdown, Litecoin LTC found support some weeks back and slowly climbed back as it experienced low volume inflow. While struggling to push higher, it encountered resistance and lost 5% today.
Litecoin (LTC) is proving its toughness in the wild world of crypto. Even with recent ups and downs in the market, Litecoin is holding steady, making investors hopeful about its future. While its price dipped a bit, experts and some charts are pointing towards a big comeback for LTC.
Litecoin (LTC), the “silver” to Bitcoin’s “gold,” has surged in recent weeks, buoyed by a combination of technical factors, strong investor interest, and strategic accumulation by miners.
Litecoin price reached $110 on Friday, its highest level in over nine months. A popular crypto analyst says the macro downtrend for LTC may be over. Litecoin (LTC) currently trades around $104. But earlier in the day, LTC price hovered just above $110, its highest level since last July.
Litecoin appeared bearish again following a recent break out of a crucial resistance level to a multi-month high. However, it has found support and bounced slightly but there’s not enough volume to bring the bulls back.
After moving out from an accumulation phase in late February, Litecoin advanced bullish and tapped its highest level in eight months. It retraced and currently looks for a solid level. It is expected to resume bullish soon.