The leading Layer-1 (L1) cryptocurrency, LTC, has shown significant growth of 10% in the last 24 hours. This surge follows a delay by the US SEC in deciding on Canary Capital’s application for a Litecoin ETF, creating some uncertainty around the token's momentum.

Despite the recent rebound in LTC’s value to $91.68, technical indicators suggest a potential bearish reversal may be looming due to signs of buyer exhaustion. For instance, the Chaikin Money Flow (CMF) of LTC has declined, indicating weakening buying pressure even as the price rises, possibly leading to a market reversal.

On the other hand, on-chain data reveals that LTC’s Network Realized Profit/Loss (NPL) is increasing, suggesting that holders are considering selling to lock in profits. This rise in profitability combined with weakening buy pressure raises the risk of short-term selling pressure, potentially leading to a price correction.

The future of LTC remains uncertain, as a failure to attract new demand could result in a drop to $82.88, while increased buyer activity could push the price up to $95.13 and possibly even $105.04.