LTC faces a fateful battle? ETF approval is approaching, and $90 becomes the "life and death line"!

On May 6, 2025, according to the Crypto King's official account, Litecoin (LTC) is at a critical turning point, and the ETF application submitted by Canary Capital will be decided before May 5 (Monday). ETF analyst James Seyffart said on X that although the SEC has not delayed the approval, the delay is still a high probability, and the possibility of early approval is low.

If successfully passed, LTC will usher in a bullish catalyst, but the current trend is still under pressure. As of press time, LTC is constrained by the $90 resistance level and has failed to reverse the bearish structure since the high of $96.5 (source: TradingView).

Although short-term momentum is bullish, the A/D chart shows that buying is still weak, and $89.3, as the Fibonacci 78.6% retracement level, has once again become a stumbling block. LTC has recently been trapped in a range of $83.3 to $88.8, indicating a lack of momentum for a breakthrough.

The liquidation heat map (source: Coinglass) points out that $80.3 and $91.4 are the key "magnetic areas" in the near future. It is expected that LTC will usher in a new round of rise only after clearing these two areas. The trend of Bitcoin will also have an important impact on it. The short-term shock pattern will continue, and bullishness requires patience to wait for breakthrough signals.