Litecoin Drops 6.05% Amid Tariff Agreement, Fed Policy, SEC Delays

Litecoin's price has experienced notable fluctuations recently, reaching a peak of $101.90 before retreating to the $95-$96 range. The cryptocurrency faced strong resistance at $101.65, leading to a correction. However, support levels around $95.82 have helped stabilize the price, indicating resilience in the market.

Analysts attribute Litecoin's price movements to broader economic factors, including the recent US-China tariff agreement, which provided bullish momentum. Additionally, Federal Reserve policy decisions have contributed to a positive sentiment in risk assets, helping Litecoin maintain its position above critical support levels despite the correction.

In the regulatory landscape, the SEC has delayed decisions on spot ETF applications for several cryptocurrencies, including Litecoin. This has created uncertainty but also anticipation among investors. Betting markets show an ~80% probability for approval before year-end, suggesting continued optimism. This regulatory environment, combined with increasing institutional adoption and cross-border transaction utility, positions Litecoin as a significant player in the evolving cryptocurrency ecosystem.

Technical analysis highlights that Litecoin fell from a high of $101.90 to a low of $95.73, representing a 6.05% decline over 24 hours. Strong resistance was established at the $101.65 level, where the price repeatedly failed to break through. Support emerged around $95.82 with substantial buying volume. A potential double bottom formation was identified near the lows, and the trading range of $5.87 (5.76%) indicates heightened volatility. The price is currently consolidating near $96.94, suggesting possible stabilization. However, it remains vulnerable to further downside pressure if the $96.24 support fails.