Litecoin LTC recovered from am overnight sell-off, rising more than 2% and reaffirming support near $93. The bounce coincided with gains in traditional markets after a cooler-than-expected U.S. CPI report.
The digital currency slipped after midnight UTC, losing ground from a $93.58 peak, before attracting buy-side interest that helped stabilize the price around $91.
Analysis suggests market participants may be positioning ahead of a potential litecoin exchange-traded fund (ETF) approval. Bloomberg analyst James Seyffart has assigned a 90% probability of such approval later this year, placing LTC alongside Solana's sol SOL as leading candidates in a possible “Altcoin ETF Summer.”
Technical Analysis Overview
Litecoin’s price action ranged from $90.97 to $93.58 over the past 24 hours, a 2.88% swing, according to CoinDesk Research's technical analysis data model. The steepest drop came during peak Asian trading hours, when the price fell 1.55% in minutes before catching support at $91.
As traders in the Americas woke up, high-volume buying pushed LTC back toward $92. The most intense trading came around midday UTC, with 249,812 tokens changing hands and fueling a sharp recovery.
An ascending price channel appears to be forming, with resistance near $93.50 and support consolidating around $91. Volatility spiked again with a 3.4% drop, though prices stabilized soon after, suggesting the $91 floor is holding under pressure.
LTC is now hovering near $92.95, showing signs of steady recovery.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .