LTC Defies Regulatory Uncertainty: Bulls Target $96 as Key Resistance

Despite the SEC’s delay in approving Canary Capital’s proposed spot LTC ETF, Litecoin (LTC) has surged 12% in the past 24 hours, briefly hitting $93.20 before stabilizing at $90.84. This rally comes amid increased trading volume and bullish sentiment, with market participants eyeing the critical $96 resistance level. Analysts highlight LTC’s structural similarities to Bitcoin as a potential catalyst for further gains, underscoring its resilience in the face of regulatory headwinds. As of May 9, 2025, LTC’s performance continues to attract attention as traders anticipate a breakout above $96.

Litecoin (LTC) Surges 12% Despite SEC ETF Delay, Eyes $96 Resistance

Litecoin rallied sharply in the past 24 hours, briefly touching $93.20 before settling at $90.84 amid surging trading volume. The 12% price jump defied regulatory headwinds after the SEC postponed its decision on Canary Capital’s proposed spot LTC ETF.

Market participants remain bullish as LTC tests a critical resistance level at $96. Analysts note the token’s structural similarities to Bitcoin could support further upside, with some targeting a psychological breakout above $100.

Daily trading volume spiked 68.78% to $901 million, signaling strong institutional interest. The rally originated from an $81.78 support level as traders anticipated ETF approval - a thesis now delayed but not derailed.

Litecoin Holds Key Support as Traders Eye $94 Breakout

Litecoin’s recent surge past the $89.3 resistance level signals growing bullish momentum, though subdued trading volumes suggest the ascent may be gradual. The cryptocurrency has firmly held the critical $83 support zone, reinforcing buyer confidence.

Technical indicators now favor upside potential, with LTC closing above the 78.6% Fibonacci retracement level—a classic bullish signal. Market observers anticipate a measured climb toward $96 in coming sessions, contingent on sustained demand.

Trading activity shows tentative signs of revival following Litecoin’s rebound from $83.20. The asset’s ability to maintain this foothold could determine whether it tests higher resistance levels or consolidates further.

Missouri Moves to Axe Capital Gains on Crypto & Stocks – Budget Battle Looms

Missouri is poised to make history as the first U.S. state to eliminate capital gains taxes entirely, with legislation now awaiting the governor’s approval. The bill, passed on May 7, WOULD exempt profits from stocks, real estate, and cryptocurrency retroactively to 2025.

The measure includes sweeteners like expanded tax breaks for seniors and disabled residents, aiming to build broader political support. If signed, Missouri could set a precedent for other states considering similar tax cuts on digital assets and traditional investments.

Corporate capital gains taxes may also disappear if state revenue targets are met, creating potential Ripple effects across financial markets. The move comes as cryptocurrency gains increasing mainstream acceptance in state-level fiscal policy.