LTC leads market gains with a 11 % jump – Tradingview News

The cryptocurrency market has been relatively calm over the past 24 hours, as most of the main digital assets have shown slight losses or unification. However, Litecoin (LTC) has emerged with a strong gathering, gained more than 10 % and appeared as the best performance among the best 100 encrypted currencies.

According to Coinmarketcap data, coding assets were traded at $ 118 at the time of publication, which represents an increase of 11 % and 22 % a day and last week, respectively. LTC also has approximately $ 9 billion in market value.

Despite all the indicators that indicate an upward momentum, it remains to see whether this gathering is the beginning of the upward trend or if the price declining is imminent.

Litecoin, Source: Coinmarketcap

Optimism about Etf Litecoin

One of the main drivers behind the Price’s Litecoin leap is the increasing expectation that the US Securities and Stock Exchange Committee (SEC) will soon be on Spot Litecoin ETF.

The agency recently recognized the Canary Fund’s proposal to such a product, which leads to the optimism of the investor. The encryption market is now optimistic that ETF Litecoin will be approved before the end of 2025. Many market analysts believe that the increase in Litecoin prices may be the beginning of a greater bullish direction.

Follow this development Nasdak’s last introduction to 19B-4 forms with SEC to include Coinshares’ XRP and Litecoin Etfs. If approved, these traded investment funds can provide institutional investors new ways to gain exposure to Litecoin, which may enhance liquidity and demand for asset.

Technical indicators indicate a possible withdrawal

Despite the growing upscale emotions, LTC can suffer from price declining before any other gains. Litecoin (RSI) is a main technical indicator that measures the speed and change of price movements, currently 54 years old. Although this is not considered a peak timing, the indicator has been on a continuous rise since February 4.

LTCUSD, Source: Tradingview

RSI reading above 70 usually indicates that the original is exaggerated and may suffer from a short -term correction. This indicates that although the price of Litecoin may continue to rise, the price may face potential fluctuations and decline.

The coming weeks will be crucial for the Litecoin prices. If ETF is optimistic about building market conditions and remains favorable, LTC may experience higher resistance levels. The instant price resistance level is 123, and beyond this level, the price may be $ 130, which was last achieved on January 31.

However, if excessive conditions in the peak leads to a correction, investors may search for about $ 115 or less at 98 dollars before another possible march. With the increase in institutional and speculative interest on ETF, Litecoin remains an encrypted currency to watch closely.