LTC news: faces resistance at $96.71 — CoinShares scraps Litecoin ETF plans in U.S.

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Litecoin slides 0.67% today

Highlights

CoinShares has withdrawn its planned Litecoin ETF in the U.S., citing increased competition and a strategic pivot toward alternative crypto investment products.
Dormant large Litecoin holders have reactivated their wallets, ending prolonged inactivity and potentially signaling a shift in on-chain distribution activity.
Litecoin's network showed robust usage with 180,000–220,000 daily active addresses and 80,000–110,000 new addresses created per day, reflecting ongoing adoption.

ETF withdrawal and large holder activity as competition reshapes sentiment

CoinShares has withdrawn its plans to launch a Litecoin ETF in the U.S., responding to heightened competition and a revised strategic focus on alternative crypto investment products. Additionally, previously dormant large holders have reactivated their wallets after prolonged inactivity. Daily activity remains elevated, with active addresses fluctuating between 180,000 and 220,000, and 80,000 to 110,000 new addresses created per day, indicating ongoing network adoption.

Persistent selling pressure as oversold signals meet weak momentum

Momentum indicators confirm a prevailing bearish outlook for LTC, with the MACD in negative territory and ADX showing weak trend strength. Daily readings for RSI, CCI, and Stoch RSI hover near oversold levels, but a BBP of –1.66 demonstrates continued seller dominance in intraday trading. Today's session saw a 0.67% decline, with LTC opening slightly below the last close and finishing near the day's lower range; this sustained pressure aligns with moderate volatility and signs of short-term exhaustion, as highlighted by some divergences between oversold oscillators and persistently weak momentum signals.

Further downside risk as volatility persists below key support

Over the next five trading days, the expected volatility band relative to current levels is $82.00 to $88.50. The probability of a price increase remains under 20%, so further downside is more likely. Baseline scenario: consolidation within a sideways range around recent lows; in a bullish scenario, a close above dynamic resistance could send LTC toward $88.50; a bearish breakdown below $82 may accelerate declines toward new weekly lows.

Anton Kharitonov, expert at Traders Union, sees LTC trapped below all major moving averages, with strong technical resistance and weak momentum. He notes that fundamental sentiment is dampened by CoinShares’ ETF withdrawal, while long-term holder activity and steady address growth offer limited support. This analyst remains cautious, as volatility stays elevated and indicators flash oversold but lack clear reversal. "Unless LTC closes convincingly above $96.71, any bounce is suspect — for now, the trend favors further downside."

Previously it was reported that daily momentum remains bearish, with technical signals showing sellers dominate across multiple indicators. CoinShares also withdrew its application to launch a Litecoin ETF in the US, leading to a shift in sentiment as explained in daily momentum remains bearish, with technical signals.

Source of Data: LTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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