LTC Price Holds $85 Support While Wave 3 Setup and RSI Recovery Emerge
- Litecoin rebounded 6.0% to $91.40 after a corrective phase, holding firm within a $84.81–$91.66 trading range.
- Bullish divergence on RSI and wave structure completion suggest Litecoin may enter a third impulsive move upward.
- Possible Litecoin ETF negotiations would draw new attention to the market again as soon as the U.S. government shutdown is over.
Litecoin (LTC) was at $91.40, but it increased by 6.0 percent in the last 24 hours, which was a significant improvement following a steep reflex action. The coin was trading on a range of -84.81-91.66 and this occurred after the coin had stagnated on consolidation. On the four-hour chart, LTC displayed the completion of a corrective wave pattern, suggesting the potential start of a third impulsive wave upward.
The price movement followed a steep decline from earlier highs near $145, where a series of smaller wave structures indicated exhaustion in the prior rally. Subsequently, Litecoin entered a corrective phase marked as wave 2, which appears to be nearing completion. The chart also highlights a regular bullish divergence between price and RSI, typically associated with emerging recovery strength after a decline.
RSI Rebound Supports Litecoin’s Stabilization Near Key Support
The Relative Strength Index (RSI) rebounded from oversold levels, rising above 38.6 after reaching its recent low. This upward turn aligns with Litecoin’s stabilization near the $85 support level. Historically, such movements have preceded local price recoveries, especially when accompanied by converging technical signals on momentum indicators.
In addition, the corrective structure of Litecoin on the shorter time has narrowed, which speaks of declining selling pressure. As the momentum is enhanced, traders are observing how LTC can maintain a close above $91.66 that will reflect a better shift in the trend.
Market Focus Turns to Possible ETF Development
Alongside technical developments, discussions have surfaced around a potential Litecoin ETF once the U.S. government shutdown concludes. Although no confirmation has been issued, this remains a point of focus among traders tracking institutional involvement in digital assets.
It is worth noting that Litecoin performance with respect to Bitcoin, which stands at $0.0008557 BTC, is of moderate strength, indicating that the currency will continue to draw interest among investors when the market becomes uncertain. Price stabilization, coupled with bettering of the RSI, and continued ETF speculation puts Litecoin on a critical point with the technical movement now leaning toward a gradual upswing should current prices remain stable.
