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Litecoin Holds Support Level as Layer-2 Launch Signals Broader Utlity
Despite macro pressure and a bearish chart setup, Litecoin is gaining traction on the rollout of a layer-2 network and other developments.
Jun 4, 2025, 4:01 p.m.
What to know:
- Litecoin is holding onto key technical support around $89, despite forming a bearish head-and-shoulders pattern.
- Litecoin's short-term outlook is being shaped by positive fundamental developments, including the launch of LitVM, a zero-knowledge Layer-2 network.
Litecoin is clinging to key technical support around $89 as a mix of fundamental and macro developments shape its short-term outlook, according to CoinDesk Research's technical analysis data model.
The cryptocurrency traded in a tight range over the last 24 hours, testing lows near $88.92 before recovering. Despite forming a bearish head-and-shoulders pattern, volume support at $89 suggests buyers are stepping in.
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This stability comes amid broader market uncertainty. The CD20 index of major cryptocurrencies fell around 1% over the same period, reflecting reduced risk appetite as geopolitical tensions and a weakening U.S. dollar shift capital toward hard assets like gold.
Still, Litecoin is seeing new tech upgrades and rising interest.
Lunar Digital Assets recently launched LitVM, a zero-knowledge Layer-2 network for Litecoin. Built on BitcoinOS and Polygon’s CDK, the system introduces EVM-compatible smart contracts and allows cross-chain swaps with Bitcoin and Cardano .
These features aim to boost Litecoin’s role in decentralized finance while addressing long-standing security risks around blockchain bridges.
Litecoin also continues to see growing retail access. IG Group added LTC among various other tokens as it launched crypto trading in the UK. It's impact, given the cryptocurrency's scale, is likely to be limited if any.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Ano ang dapat malaman:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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