Litecoin itched early losses Tuesday back to hack a 1.6% daily gain that traded over $ 84.6 after dipping for $ 82.69.
Rebound came despite the fact that chopped markets responded to increased tensions around the war between Israel and Iran, which has kept the markets on edge, with the odds of a US military action in the region by the end of this month, which was now sitting at 62% according to the polymarket dealers.
Digital assets, often sensitive to macroeconomic stress, mirrored the jitters. Nevertheless, Litecoin showed unusual resilience and jumped back near a key resistance to $ 85.6, according to Coindesk Research’s technical analysis data.
Dealers see SEC’s review of spot Litecoin ETF applications. The polymarket -dealers now prices in a 76% chance of approval this year.
Overview of Technical Analysis
- Litecoin published a gain of 1.6% over the 24-hour period and climbed from a low level of $ 82.69 to close at $ 84.88. The wider market, measured by Coindesk 20 (CD20) index, decreased 0.5% in the same period.
- Support solidified in the range $ 83.48- $ 83.57, according to Coindesk Research’s technical analysis data model, where buyers entered with volume above average.
- This buying interest established a floor that helped LTC climb back despite intraday volatility. The resistance occurred to $ 85.60- $ 85.67, a zone tested twice but not violated.
- Price action developed an increasing channel, marked with higher low, a sign of stable bullish momentum, even when sellers uncovered gains.
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