Litecoin is poised for significant changes in its valuation as it stands on the brink of potential jumps ahead of ETF approvals.
Current Market Status of Litecoin
The market value of Litecoin currently stands at $92.74 following a 1% increase. However, its inability to maintain a position above the $97 resistance level suggests possible future declines.
Resistance and Support Levels
Litecoin remains in an optimal accumulation state while preparing for upcoming ETF approvals in May. Structurally, LTC has a strong support area between $85 and $95, enabling potential price rises towards $125 and possibly reaching $140. However, failure to maintain its fill zone could result in retesting the $75 price range.
Increase in Transaction Activity
Litecoin's USD valuation from transfers has grown substantially over recent years due to its expanding use case. Daily transaction volume of LTC has exceeded 200K, reflecting its effectiveness as a digital payment system. This trend suggests possible further price increases.
Litecoin continues to demonstrate stability amidst market instability, which may prepare it for potential changes ahead of ETF approvals.
