- Analysts predict a potential rally to $180-$200 if $140 is breached.
- 84% of LTC addresses are in profit, indicating strong market sentiment.
- A 90% chance of Litecoin ETF approval from the SEC adds to bullish expectations.
After a bullish rally in Q4 2024, Litecoin price (LTC) has found itself trading within a concentrated channel.
But, the price has recently got strength and moved away from the support level of $100 and is now approaching the resistance zone at $140.
The seen upward momentum is very prominent, as LTC has surpassed both the 20-day and 50-day EMAs, signaling strong buyer interest.
Over the past two days, the Litecoin price has surged by 20%, forming two robust marubozu candlesticks.
Remarkably, since hitting a low of $80 following Trump’s executive order this month, Litecoin price has recovered more than 60%.
However, the $140 mark has proven to be a significant barrier. Since December, sellers have pushed back against the LTC price at this level on three separate occasions, yet Litecoin is once again nearing this critical zone.
Also, many market analysts and investors are now keenly focused on Litecoin price prediction, especially with the potential approval of an ETF on the horizon. Continue reading to know about what lies ahead for Litecoin.
Litecoin ETF Has 90% Odds Of Getting Approval From SEC
recently, an Analyst Scott Melker recently shared insights on X, highlighting that Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a 90% chance that the U.S. SEC will approve a spot Litecoin ETF before the end of 2025.
This makes Litecoin the most likely altcoin to receive approval. They believe Litecoin’s straight forward path to approval is due to its proof-of-work mechanism, its similarities to Bitcoin, and the SEC’s likely classification of it as a commodity.
Recently, the Satoshi Club confirmed this sentiment in a post, sharing an image that illustrates LTC as the frontrunner under the new SEC approach.
According to post, Litecoin ETF boasts a 90% success rate, followed by Solana at 70%, XRP at 65%, and surprisingly, Dogecoin at 75%. Notably, there were no chances highlighted for HBAR or Polkadot ETFs.
Now, the discussion has accelerated that has sparked interest within the community on X, with many comparing which crypto ETF might receive the green light this year. As the anticipation builds, all eyes are on Litecoin and its potential ETF approval.
Could LTC Price Hit $200 Mark Post Breaching the $140 Mark?
As of the time of writing, Litecoin price is trading at $128.09, reflecting a notable surge of 6.98% over the past 24 hours. The market capitalization stands at approximately $9.64 Billion, with a 24-hour trading volume of $1.93 Billion.
Analyzing the technical chart, Litecoin price has moved away from its support zone and is approaching the resistance level at $140. The current market sentiment is bullish, which increases the likelihood of a breakout.
Analysts like CryptoBull_360 are also leaning bullish, suggesting that if Litecoin price breaks through the $140 barrier, it could set the stage for a significant bullish rally.
Even he shared his targets toward the $180-$200 price range, fueled by recent Litecoin ETF-related excitement.
As he believes that people are worried that they might miss out the opportunity, so the FOMO is driving the accumulation.
Moreover, onchain shows that whales continue to buy the dips, contributing to rising trading volume and positive momentum on the charts. As a result of that buying spree, addresses’ financial data has improved.
84% of addresses are currently in profit, while only 8% are at a loss and another 8% are at breakeven.
Also, the total number of addresses holding balances is increasing, driven by Litecoin ETF FOMO, as both retail and institutional investors are actively buying.
A Long-Term Rally Incoming in LTC Price?
Furthermore, an crypto analyst @investing0731 has pointed out that Litecoin price has established a strong bullish chart pattern in the cryptocurrency market.
On the 3-month time frame, Litecoin price formed a symmetrical triangle pattern, which has now triggered a breakout.
Following this breakout, the LTC price experienced a slight pullback that now has taken support at converged trendlines of the pattern, and that makes the overall momentum remains bullish.
According to the Litecoin price prediction on 3 months technical chart, there’s potential for the price to outperform after this retest. The chart suggests that the bullish sentiment could continue to drive LTC higher.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
