The rise in Litecoin's price is linked to an ETF filing and broader market recovery, sparking expectations of improved market dynamics.

Litecoin Price Analysis

On the daily chart, the Litecoin price action shows a breakout from a falling wedge, gaining strength in an uptrend. This uptrend faces resistance at the 38.20% Fibonacci level, the overhead resistance trendline, and dynamic resistance at the 200 EMA. The price rally in Bitcoin and ETF news fueled a nearly 10% price increase over two days. Currently, Litecoin trades at $70.50, with signs of a potential reversal within the channel.

Technical Indicators

The MACD indicator shows a bullish crossover supported by positive histograms. If Litecoin achieves a bullish breakout of the rising channel, the possibility of a golden crossover in EMA increases. These technical indicators bolster the bullish trend.

Potential for Litecoin Price Growth

Continuing the uptrend depends on Litecoin's ability to close above the 38.20% Fibonacci level. In case of a bullish breakout, the price can reach the 61.80% Fibonacci level, around $85. Optimistically, ETF approval by the SEC could push the price to the $100 psychological mark. Key support levels are $60 and $56.

Litecoin's price growth could continue, supported by the potential ETF approval and positive market conditions.