Litecoin Price Surges 13% to $92.5 Amid Market Recovery
Litecoin (LTC) Price Update
- LTC price increased by 13% to $92.5, with trading volumes up 66% to $900 million.
- The price surge is linked to a broader crypto market recovery ahead of the FOMC meeting.
- A breakout from a horizontal trading range formed a "god candle," indicating upward momentum.
- After a partial pullback, LTC is retesting $90 support levels; maintaining this could attract new buyers.
- Market analysts predict potential rallies towards $140 if LTC sustains above $90 and breaks $100 resistance.
- LTC open interest rose 14% to $651 million, suggesting ongoing bullish sentiment.
- The SEC delayed the decision on the Canary Funds Litecoin ETF approval, seeking public comments until May 26, 2025.
- Analysts estimate a 90% probability of ETF approval by year-end.
- LTC has shown 33% gains over the past month; further movement may depend on FOMC outcomes.