Litecoin Surges 4% to Break $84 as ETF Hype Intensifies
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Litecoin bulls charge ahead as the silver-to-Bitcoin's-gold cracks $84—fueled by swelling ETF speculation.
Why the sudden spike? Traders are betting big on institutional adoption, with whispers of a Litecoin ETF gaining traction. The 4% jump puts LTC back on traders' radars after months of sideways action.
Wall Street's late to the party (again). While crypto natives stacked LTC at $40, traditional finance now scrambles for exposure—just in time for the most volatile phase of the rally. Typical.
What's next? Either the ETF floodgates open, or this becomes another 'buy the rumor, sell the news' classic. Either way, buckle up.
Technical Analysis Overview
- Litecoin’s price burst through the $83.40 ceiling backed by 331,459 LTC being traded in a single hour, according to CoinDesk Research's technical analysis data model.
- LTC has since been bouncing between $84.00-$84.20 support and $85.30-$85.45 resistance.
- A descending intraday channel printed lower highs until buyers defended $84.20.
- Holding above $84 keeps $90 in play while a close below $84 risks a slide to $79.
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