Key points
- LTC rose 1% in the past 24 hours and is now trading around $85 per coin.
- The coin could push past $95 amid growing retail demand.
Litecoin rebounds to $85 as demand increases
Litecoin (LTC) gained 1% and is currently trading just above $85 per coin. This uptick comes as interest in cryptocurrencies grows alongside the rising popularity of exchange-traded funds (ETFs). The move followed Vanguard’s decision to allow exposure to crypto markets through third-party ETFs.
Vanguard’s decision expands access to the Canary Litecoin ETF (LTCC), potentially widening demand for the fund.
Data from SoSoValue shows the Litecoin ETF recorded net zero flows on Monday and Tuesday, keeping cumulative net inflows at $7.67 million.
Derivatives markets for Litecoin have also seen stronger demand: futures open interest rose 4.41% over the last 24 hours to $440.26 million. That increase suggests traders are positioning for a potential short-term price rise.
Additionally, CryptoQuant data indicates an increase in average whale order size, reflecting greater confidence that could further support demand.
Litecoin could reach $95 as indicators turn bullish
The LTC/USD 4-hour chart had been bearish and underperformed in recent weeks, but the coin recovered from the $74 low recorded on Monday and may be set for a short-term rebound.
At the time of writing, LTC trades at $85.20. Technical indicators on the 4-hour timeframe have turned bullish: the RSI sits at 53, indicating buyers have regained control and LTC is no longer in bearish territory. The MACD line crossed into a bullish position on Tuesday, reinforcing the upward bias.
If the recovery continues, Litecoin could climb to the 0-day exponential moving average (EMA) at $92.94. A more sustained rally might push it toward the 200-day moving average at $99.51. Conversely, if momentum fades, LTC could retest recent lows near $79.68 and $74.66 recorded on November 4 and December 1, respectively.