LTC News: Litecoin Defies Market Downtrend, Gains Momentum Amid Potential ETF Buzz

In a market dominated by bearish sentiment, Litecoin stands out with positive gains and the anticipation of a potential ETF.

Litecoin Lifts, Cardano Gains Momentum: Potential Crypto ETF Buzz

The crypto market is experiencing a downtrend, with the total market cap down 1.63% in the past 24 hours and the Fear & Greed Index nearing the ‘afraid’ category. Despite this, Litecoin ($LTC) has bucked the trend with a 1.23% gain over the past month. This positive movement is attributed to the buzz surrounding a potential Litecoin ETF, which holds appeal for seasoned investors and those looking for an easy entry into crypto. Investment titans like Warren Buffet have also warned the US government against disrupting the US dollar, adding to the buzz around crypto ETFs.

Litecoin Rejected at $130 – Is the Bull Run Over or Just Delayed?

Whale activity appears to be keeping Litecoin in a prolonged consolidation phase, with LTC trading between $90 and $130 for the past three months. Despite a 40% gain, Litecoin has struggled to break past the $130 resistance zone. The most recent attempt to break this cycle has failed, putting the bull run on hold again. IntoTheBlock noted a clear pattern of whale manipulation aligning with the $130 resistance and $90 support zones. It is credible that another $90 bottom may follow, marking an 18% decline from current prices.

Litecoin Trading Activity Increases – Potential LTC ETF Draws Speculation

Litecoin is on the verge of breaking multi-year highs at the $147 level, defying the overall negative sentiment in the crypto market. Selling pressure and uncertainty have slowed the broader market, but LTC has held strong just below key supply levels. This resilience has fueled Optimism among investors, with many anticipating a potential breakout in the coming days. A crucial factor contributing to Litecoin’s strength is growing speculation around a Litecoin ETF. According to key data from IntoTheBlock, the number of short-term LTC traders has increased by over 12% in the past month, indicating that investors are positioning for a potential rally.