1 week ago
Litecoin (LTC) roseate by much than 11% successful the past 24 hours, edging supra $123, marking 1 of the sharpest large-cap rallies this week arsenic traders rotated into bequest altcoins amid improving sentiment and caller ETF chatter.
The move, which made LTC arsenic the largest play gainer among the apical 100 tokens, comes arsenic a premix of structural adoption and regulatory tailwinds.
In July, litecoin accounted for 14.5% of each crypto payments connected CoinGate, the steadfast said successful an X post, leapfrogging stablecoins similar USDT and USDC and 2nd lone to bitcoin (BTC).
As such, speculation implicit a spot ETF continues to physique contempt the SEC delaying its determination connected Grayscale’s exertion until October.
Bloomberg analysts pegged the likelihood of eventual support astatine 90% successful aboriginal July, citing LTC’s commodity classification by the CFTC — a favoritism that reduces ineligible hazard and places it alongside bitcoin and ether (ETH) successful regulatory clarity.
Elsewhere, MEI Pharma disclosed a $100 cardinal litecoin allocation past month, echoing aboriginal bitcoin treasury moves and giving LTC a caller space arsenic a low-beta treasury asset. While the bargain hasn’t moved markets materially, the optics help.
Meanwhile, information from CoinDesk Analytics shows LTC broke supra its 7-day elemental moving mean and faces a cardinal pivot level astatine $117.61. Relative spot scale (RSI) sits astatine 69.5 — elevated, but not yet signaling exhaustion. However, aboriginal MACD divergence suggests momentum whitethorn beryllium cooling if inflows don’t sustain.
Traders are watching $124–$131 arsenic a absorption zone, per analytics, and a adjacent supra could awesome a structural breakout.
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