- Litecoin trades near $112, just in the green on the day but at risk of fresh losses.
- The LTC price hovers at key support level as bulls attempt to hold bears off.
- Bullish crypto market and catalysts such as spot Litecoin exchange-traded funds could help LTC go higher.
Litecoin (LTC) is trading at $112, about 2% up in the last 24 hours, but in the red over the past week and month time frames.
Meanwhile, the 24-hour trading volume of $694 million is more than 22% down on the previous day as top altcoins look to bounce.
As LTC price drops towards the $110 level, can bulls hold onto gains or is the altcoin poised for a revisit of the psychological $100 mark and lower?
Litecoin price forecast: Is LTC set for a revisit of $90 next?
Litecoin price has broken below the middle line of an ascending channel pattern. Price at $112 suggests a broader crypto pullback could accelerate LTC’s dip to support at $100 and possibly to $90.
The technical indicators on the daily chart support a likely flip lower, with RSI and MACD giving sellers the upper hand.
Open Interest has also dropped slightly, down to $994 million from the record highs of $1.27 billion hit recently as LTC spiked. OI in Litecoin futures does notably remain higher than the lows of $800 million seen in early August.
A break above $120 could thus allow bulls to test the upper channel barrier near $140 and aim for the psychological $200 mark.
While the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover from mid-August and prints red histogram bars, a mixed setup has other indicators signaling potential resilience.
For instance, the Relative Strength Index (RSI) on the daily chart sits at 46, but is upsloping to suggest buyers could keep off a fresh dip towards the oversold territory.
If RSI pops above the neutral point of 50 and market conditions align, LTC could see the above scenario play out.
What could help Litecoin price higher?
Network growth, including a significant hashrate spike, suggests confidence in the proof-of-work coin.
This and market sentiment point to a scenario where bulls ride the overall crypto uptick in the coming months to drive higher.
The upcoming approval of spot ETFs, with Litecoin among those with notable high odds of a nod, add to this outlook.
In this case, the SEC’s October 2025 decisions on spot Litecoin ETFs from Grayscale, Bitwise, and CoinShares, which carry a 90% approval probability, per Bloomberg analysts, could be huge catalysts.
Experts say a SEC approval for LTC spot ETFs could drive institutional inflows of up to $500 million in Litecoin at launch, printing the trajectory that saw Bitcoin’s price rally to new highs in early 2024.
No Comment! Be the first one.