Litecoin tests channel resistance amid Grayscale ETF plans
- —LTC is at $57.126 after rebounding from $51.809, with the price above the 20/50/100/200 EMAs
- —The 14-day RSI has fallen to 59.28 from above 80, remaining above the neutral 50 level
- —LTC derivatives volume fell 23.32% to $358.26 million, with open interest at $436.25 million
- —Grayscale filed with the SEC on September 11 to convert the Litecoin Trust into an ETF (LTCN) on NYSE Arca
Why it matters: Approval of the Grayscale ETF could open institutional demand for LTC, but without a break of channel resistance, upside remains uncertain.
Source: TronWeekly