Market Slowdown Overshadows ETF Buzz, Sending Litecoin Lower

Litecoin Consolidates as Golden Cross Looms and ETF Speculation Stirs Optimism

Litecoin (LTC) has been consolidating over the past 24 hours, maintaining its position after pulling back from a recent two-week high above $88. Currently, LTC is trading in a narrow band between $85 and $87, with buyers stepping in at lower levels and sellers capping advances around the $87 mark.

Market watchers are eyeing the possibility of a “golden cross,” where the 50-day moving average rises above the 200-day moving average—a pattern typically viewed as a bullish signal suggesting sustained upward momentum. Still, CoinDesk Research notes that Litecoin must decisively break above $87 to confirm this shift in trend.

The broader cryptocurrency market has remained relatively calm, with the CoinDesk 20 (CD20) index slipping only 0.25% over the past day.

ETF Prospects Fuel Hope

Investor sentiment around Litecoin remains positive. On Monday, Bloomberg analysts increased the odds that the U.S. Securities and Exchange Commission will approve spot exchange-traded funds (ETFs) for XRP, Solana, and Litecoin to 95% by year-end. Prediction platform Polymarket shows similar confidence, with traders assigning an 86% probability.

Approval of a Litecoin ETF could open the door for more traditional investors to access LTC through standard brokerage accounts, potentially driving fresh demand and liquidity into the market.

Market Technicals

In the last 24 hours, LTC traded within a $2.09 range, representing about a 2.46% fluctuation. Sellers have consistently stepped in around the $86.65 to $87.10 range, creating resistance that has been difficult to overcome.

On the flip side, strong buying support has held firm between $85.02 and $85.23, forming a price floor during midday trading on July 1.

While the broader 24-hour chart indicates caution, featuring a pattern of lower highs along a downward trendline, shorter timeframes reveal some bullish signals. Earlier today, Litecoin staged a modest rally from $85.22 to $85.59, gaining 0.43%. That upward move was supported by a spike in trading volume above 5,500 LTC per minute, allowing the price to break past minor resistance at $85.50.

Further support emerged between $85.03 and $85.18 during the same hour. With an emerging ascending channel marked by higher lows, the data suggests Litecoin may be preparing for another upward push, despite lingering market caution.