What’s Next for LTC After Litecoin Tests This Bullish Pennant
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The value of LTC has stabilised within a clear bullish pennant following a recent uptrend short-term exhaustion on the 8-hour chart.
- The analysis hinted at a likely breakout as LTC’s price surged by 5.15% over the last day amidst rising optimism regarding potential approval for a spot LTC ETF.
Currently, Litecoin [LTC] is priced at $122, reflecting an increase of 5.15% in just 24 hours. Meanwhile, Bitcoin [BTC] and leading altcoins like Ethereum [ETH] are facing market uncertainty and stagnation in prices.
The speculation around impending approval of a spot LTC ETF has intensified market expectations, with Bloomberg analysts estimating chances for approval at approximately 90%…
LTC Technical Overview and Potential Scenarios Ahead
An examination of Litecoin’s performance on an 8-hour chart shows it was consolidating within a bullish pennant structure indicating potential bullish momentum ahead…
LTC has approached significant horizontal resistance levels as part of this pattern suggesting possible breakout potential above $130-$135…
According to insights from World of Charts disseminated through X (formerly Twitter), there’s potential for bulls to push prices into $150-$170 territory soon before aiming higher towards $250 over time…
Source: X
LTC Open Interest Trends per Coinglass Reports:
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