While the chances of Litecoin ETF approval from the Securities and Exchange Commission nears 90%, Litcoin is showing strong bullish momentum as the cryptocurrency has surged to $124.98 with a 21% hike in a week.
(Source: Ali on X)
According to the prominent crypto analyst, Ali, LTC is heading toward the breakout mark at $141. While the price has been climbing steadily, a decisive close above the critical $141 resistance level will confirm a bullish trend. If the cryptocurrency breaks this barrier, it could “open the path toward $170–$200.”
Yes, #Litecoin $LTC is gaining momentum, but a clear breakout is key. A sustained close above $141 could open the path toward $170–$200. Wait for confirmation! pic.twitter.com/3KZM5mIGXu
— Ali (@ali_charts) February 11, 2025
At the time of writing, LTC is trading at around $123 with a market capitalization of $9.31 billion and a circulating supply of 84 million tokens, according to CoinMarketCap.
Litecoin ETF Approval Odds Hit 90%
Analysts James Seyffart and Eric Balchunas have recently shared their predictions on the likelihood of various altcoin exchange-traded funds (ETFs) securing approval from the U.S. SEC. Their rankings have sparked a surge in certain cryptocurrencies, with the LTC leading the pack. “Litecoin leads w 90% chance,” according to Eric Balchunas.
The report states that the SEC has formally considered Canary Capital’s application for a spot Litecoin ETF, concluding the first step in a lengthy review process. Filed on Jan. 16, Canary’s ETF is expected to become the first altcoin ETF after Bitcoin and Ethereum. At present, three companies are in the queue that submitted filings for a spot Litecoin (LTC) ETF, including Canary Capital, Grayscale, and CoinShares.
Also Read: CoinShares’ Litecoin ETF Filing Sparks Rally – Is a 3-Year Breakout Coming?
