Litecoin (LTC) Price Jumps 12% Amid ETF Delay, Targets $96 Resistance

Litecoin (LTC) has surged 12% in the crypto market, briefly touching $93.20 before pulling back to $90.84, according to CoinMarketCap. The sharp rally has reignited bullish sentiment as the token edges closer to the critical $96 resistance level, with some analysts eyeing a potential breakout above the psychological $100 mark.

The price increase comes despite a regulatory setback, as the U.S. Securities and Exchange Commission (SEC) delayed its decision on the spot Litecoin ETF proposed by Canary Capital. Still, market participants remain undeterred. Daily trading volume has soared 68.78% to $901.06 million, indicating strong investor interest and momentum.

LTC initially rallied from a low of $81.78 in anticipation of the ETF approval. Many speculated it had a fair chance due to its structural similarities with Bitcoin. Both cryptocurrencies are proof-of-work based, though they differ in their mining algorithms and supply limits. Litecoin uses the Scrypt algorithm and has a maximum supply of 84 million coins, while Bitcoin runs on SHA-256 with a 21 million coin cap.

Traders are closely watching whether LTC can decisively break through the $96 level, which could trigger further gains. Whale activity is another factor to monitor. A wave of accumulation by large holders could provide the fuel needed to extend the rally and confirm a bullish breakout.

Despite the regulatory uncertainty, Litecoin’s recent price performance and surging market engagement suggest growing confidence in its long-term potential. Investors are betting on strong fundamentals, technical momentum, and renewed retail interest to carry LTC to new highs.