Litecoin is back under the spotlight, and this time, it is thanks to a mixture of price action and regulatory stir. Yesterday, the SEC decided to delay its decision on the Litecoin ETF project of Canary Funds. Although this may look like bad news, the market does not seem too disturbed. In fact, the price of the SLC is up.
Litecoin is currently negotiated at $ 90.45, up almost 11% in the last 24 hours. This places it among the three main market winners today. In addition, its trading volume increased by 65.69%, which shows that the momentum is building.
The rally comes just after the FNB delay, but it is interesting to note that the price action suggests that the traders are more focused on what is happening on the graphics than in the regulator's office. Despite the maintenance of the dry, the technical configuration of Litecoin speaks at the moment.
Litecoin price table of the structure points to the upward configuration
A well -defined ascending triangle was formed on the daily graphic of the LTC price, a model known to precede the movements up when confirmed by volume. The horizontal resistance between $ 103 and $ 105 remained stable, while the upward trend line of March continues to maintain higher stockings.
According to the analysis of cryptotitans on X (formerly Twitter), Litecoin Price again tests this key resistance after several refusals. Despite the current rejection of the supply area, continuous support near the range of $ 88 to $ 90 suggests that buyers remain active.
LTC price and resistance price rupture target zones
The graph shows a planned escape target between $ 125 and $ 130, which would mark a rally of 35.69% compared to the current price. A daily candle firm above the resistance, supported by the volume, could confirm this decision.
However, If the price of Litecoin fails to break out and dive below The ascending trend line, the increased configuration would no longer be valid. The main levels of support to be monitored in such a case include $ 85 and $ 80, where previous consolidations have occurred.
The merchants closely observe the interaction of Litecoin with the resistance line. The form and changes in the volume of the pattern will be essential to confirm whether a break is on the way or delayed. With Litecoin at a technical crossroads, its next daily closure could shape its trajectory in the coming weeks.
Read also: Does Ripple really retain XRP? A pro-XRP lawyer breaks the silence
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