LTC is recovering, but profit-taking may hinder growth

On Tuesday, after the SEC invited the public to discuss Canary Capital's application for a spot ETF on Litecoin, LTC fell to a two-week low of $81.03. In the last 24 hours, the asset has recovered to $91.68, and the daily trading volume has exceeded $850 million.

However, technical and on-chain indicators suggest a possible decline in the short term, as buyers begin to tire. For example, the Chaikin Money Flow (CMF) indicator at the time of writing this analysis is decreasing and is about to cross the neutral zero line.