Litecoin Delay Drama: Will Your Crypto Wallet Cry or Cheer?

by
  • Litecoin: Still swinging bearish like your uncle at Thanksgiving, so keep practicing that pessimism.
  • Short-term momentum’s up—but don’t grab your moon boots; anything past $90 is like Narnia: nice to imagine, hard to get to.

Okay, deep breath. The crypto world is sitting on the edge of its ergonomic work-from-home chairs, waiting for the SEC’s verdict on the Litecoin [LTC] ETF application from Canary Capital. Official word is due Monday, May 5th—so prepare for the most exciting Monday since “The Bachelor” finale.

ETF detective James Seyffart, who probably dreams in candlestick charts, posted on X (because Twitter is so 2022), saying there’s no delay—yet. But, much like your New Year’s resolutions, a delay could appear suddenly on Monday. If (and that’s a big if—like “finding matching socks” big) the ETF gets approved early, watch for crypto fans to lose their collective minds. But odds are, we’re all just practicing patience and refreshing news tabs at record speed. So, don’t bet the entire farm: that $90 resistance is basically Litecoin’s “stop trying to make fetch happen.”

Litecoin Is Getting Friend-Zoned by Fibonacci 📉

The daily chart reads like a breakup text: “It’s not you, it’s my bearish swing structure.” Even after bouncing from $63 in April (congrats on the glow-up?), LTC needs to crack $96.5 to change the narrative. Meanwhile, short-term momentum is up, and the D1 Awesome Oscillator is blinking “You go, Glen Coco!”

But plot twist… the A/D indicator is basically saying, “Nobody’s buying what you’re selling.” And naturally, $89.3—the 78.6% Fibonacci retracement level—is acting like your high school crush: alluring, unattainable, and occasionally liking your Instagram story just to keep you guessing. LTC made an attempt, got shunned, and now prices are chilling between $83.3 and $88.8. Spoiler: more likely to see another rejection than a Cinderella rally.

Turn to the 2-week liquidation heatmap and you’ll find $80.3 and $91.4 glaring at each other across the dance floor, just waiting to pull prices in their direction. Definitely looks like $91.4 is within reach, but honestly, this all depends on what Bitcoin [BTC] does—which, let’s be real, is how crypto parties usually go.

So buckle up for some sideways action. With traders feeling as confident as someone wearing socks in a public swimming pool, expect a bit of range-bound ping-pong (that’s $80.3 to $91.4 for those betting snacks). In other words: Litecoin’s gonna keep you guessing, and so is the SEC. Place your bets, but maybe don’t quit your day job. 🕺💰🤷‍♀️

Read More

2025-05-06 09:55