Litecoin recently rebounded from last week’s decrease, rising 4% to an intraday maximum of $85.45 before stabilizing near $84. This rise was accompanied by trading volumes higher than its 20-day average, indicating strong support behind the price increase.

An alleviation in global tension, marked by a potential ceasefire between Israel and Iran, is believed to have contributed to this price movement.

Key Highlights:

• Litecoin’s price increased to $85.45 and maintained levels around $84.
• The next significant catalyst for Litecoin could be the anticipated regulatory decisions regarding a spot LTC ETF from the U.S. SEC.
• According to analysts, there is an 83% probability of ETF approval, with Bloomberg anticipating a 95% chance of approval.

Technical Analysis:

• Recent trading data indicates Litecoin broke through the resistance level of $83.40 with a significant volume of 331,459 LTC traded within an hour, according to CoinDesk’s research.
• Current trading patterns show prices fluctuating between $84.00-$84.20 in support and $85.30-$85.45 in resistance. Holding above $84 opens up the possibility of moving to $90, while slipping below could lead to a decline towards $79.