LTC’s price is showing resilience despite recent market volatility, holding firmly within its key support range. The market is keeping a close eye on the price, with some expecting it could reach $200. The NYSE’s filing for a spot Litecoin ETF has many people thinking the price might jump soon.
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LTC Key Support Zone and Accumulation Levels
Litecoin’s price remains stable in the $90.1 to $99.1 range, identified by analysts as a critical accumulation zone. Crypto analyst InvestingHaven shared on X that LTC has maintained this support after a sharp decline, demonstrating strong buying interest in this area. Looking at key price levels, $97.5 stands out as an important marker – it’s where the 61.8% Fibonacci line sits.
The next level to watch is $128.6, which lines up with the 50% Fibonacci point. If LTC’s price breaks above this level, it may pave the way for a rally toward its 2025 target areas, including $200 and beyond.
Litecoin Technical Indicators and Trends
The chart analysis reveals a long-term descending trendline from LTC’s 2021 all-time high of $350, reflecting the sustained bearish momentum over the past two years. However, recent price consolidation near the $128.6 Fibonacci level suggests a potential reversal.
A breakout above this resistance could propel LTC’s price into a bullish phase. Analysts point to the $200 mark as an achievable target if market conditions remain favorable. Further targets include a stretched area near $300 and a bullish scenario reaching $350.
Read Also: Chainlink’s Bullish Pattern Holds—Key Levels Set Stage for Next Major LINK Price Move
NYSE Spot Litecoin ETF Filing
There’s more good news – the NYSE just filed paperwork with the SEC to turn Grayscale’s Litecoin Trust into a spot ETF. We should hear their decision in March, and it could really shake things up for Litecoin’s price. The potential approval of a spot ETF would enhance Litecoin’s visibility and liquidity in the broader financial market.
Finally, as LTC’s price consolidates within its support zone, market participants are watching closely for a breakout above the $128.6 level. The combination of strong technical indicators, accumulation patterns, and external catalysts such as the ETF filing suggests that Litecoin could be on the verge of a bullish rally toward its predicted targets.
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