Litecoin shows resilience amid broader crypto market uncertainty, moving towards the key $140 mark. Market analysts link this move to ETF approval speculation.
Resistance at $140 Level
Litecoin is in a narrowing range near the $140 mark, which is a critical resistance level. Although the currency hasn't sustained momentum beyond this point, a breakout with strong trading volume is possible. According to Crypto Jobs TA & FA, it's advisable to anticipate more sideways movement within the trading range of $95 to $140 until a breakout of the $140 level occurs.
ETF Speculation as a Growth Driver
Speculation surrounding the potential approval of a Litecoin ETF contributes to price growth. Daan Crypto Trades highlights that these rumors are fueling interest in LTC, making it one of the strongest coins in recent weeks. However, opinions differ on whether significant inflows will occur after the fund's approval.
Technical Analysis and Indicators
Litecoin maintains strong support at the $104-$105 level, which previously functioned as resistance. Technical indicators, such as the 50-day and 200-day exponential moving averages, confirm the long-term bullish trend. If LTC fails to break $140, a pullback to the $110-$105 support levels is expected. Nevertheless, the overall market sentiment remains positive, supporting Litecoin's upward momentum.
In the coming days, it will be clearer whether Litecoin can break the $140 level amid ETF speculation, determining its further upward movement or triggering short-term consolidation.
