Litecoin is back in the spotlight, and this time it’s thanks to a mix of price action and regulatory stir. Just yesterday, the SEC decided to delay its decision on Canary Funds’ proposed Litecoin ETF. While that might sound like bad news, the market doesn’t seem too bothered. In fact, LTC price is on the rise.
At the moment, Litecoin is trading at $90.45, up nearly 11% in the last 24 hours. That puts it among the top three gainers in the market today. What’s more, its trading volume has spiked by 65.69%, showing that momentum is building.
The rally comes right after the ETF delay, but interestingly, price action suggests traders are more focused on what’s happening on the charts than in the regulator’s office. Despite the hold-up from the SEC, Litecoin technical setup is doing all the talking right now.
What you'll learn 👉
Litecoin Price Chart Structure Points to Bullish Setup
A well-defined ascending triangle has formed on the LTC price daily chart, a pattern known to precede upward moves when confirmed by volume. The horizontal resistance between $103 and $105 has remained steady, while the ascending trendline from March continues to hold higher lows.
According to analysis from Cryptotitans on X (formerly Twitter), Litecoin price is testing this key resistance again after multiple rejections. Despite the current rejection from the supply area, continued support near the $88 to $90 range suggests that buyers remain active.
LTC Price Breakout Target and Resistance Zones
The chart shows a projected breakout target between $125 and $130, which would mark a 35.69% rally from the current price. A daily candle close above resistance, supported by volume, could confirm this move.
However, if Litecoin price fails to break out and dips below the ascending trendline, the bullish setup would no longer be valid. Key support levels to monitor in such a case include $85 and $80, where previous consolidations occurred.
Traders are closely observing Litecoin’s interaction with the resistance line. The pattern’s shape and volume changes will be essential in confirming whether a breakout is on the way or delayed. With Litecoin at a technical crossroads, its next daily close could shape its trajectory in the coming weeks.
Read Also: Is Ripple Really Holding XRP Back? A Pro-XRP Lawyer Breaks the Silence
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