Canary Funds’ litecoin ETF filings were recently amended, potentially indicating that the SEC is engaging with the filing.
The potential for a Litecoin exchange-traded fund (ETF) to gain approval has surged, leading to noticeable price gains for the digital asset. Crypto bettors on Polymarket, a decentralized prediction platform, now estimate a 51% chance of the US Securities and Exchange Commission (SEC) giving the green light for a Litecoin-focused fund after Canary Capital amended its […]
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Canary Capital filed an amended S-1 form for its Litecoin ETF filing on Wednesday, which might indicate engagement from the SEC.
The fourth quarter saw the largest jump in institutional crypto OTC trading, as Donald Trump’s US election win fueled crypto spot trading to 2024 highs, said Finery Markets.
When the US Securities and Exchange Commission (SEC) approved the 11 initial applications for spot ETFs last January 2024, it signaled a favorable environment for Bitcoin. The top digital asset’s price surged thanks to increasing institutional attention. So, it isn’t surprising that other top crypto projects follow suit, with Litecoin (LTC), a proof-of-work coin, on the deciding table. Related Reading: $7,000 Ethereum In Sight? Expert Breaks Down The Potential Path However, Litecoin is having a rough start to the year. It’s currently trading at $94.89, down 22% in the last 30 days. Litecoin’s price performance this week aligns with other altcoins, which surrendered some of their gains last year. Also, crypto analysts attribute Litecoin’s slide to the diminishing odds that spot LTC ETFs will be approved in 2025. According to Polymarket’s tracking, the odds of approving the spot LTC ETFs this year dipped to 24% as of January 13th. Odds Of Spot ETFs For Litecoin Continue To Drop For months, the crypto industry and betting markets have been projecting the odds of finally having these spot Litecoin ETFs. On December 19th, the Polymarket odds put the chances at 75% before starting to dip as the year closed. The odds were close to 50% at the start of the year, but this soon began to taper, and it’s now at 24%. However, some crypto analysts are optimistic that these ETFs will be approved soon. Eric Balchunas, a Bloomberg analyst, shared his optimism in a post. He explained that the SEC would approve these funds since they are a fork of Bitcoin. A Wave Of Crypto ETFs Soon? According to Bloomberg’s Balchunas, the market is ready to welcome the approval of new spot ETFs for different coins. In his Twitter/X post shared on December 18th, he said that the Bitcoin and Ether ETF combo may be approved, and there’s a probability that Litecoin’s ETFs may be next. He argued that since Litecoin is Bitcoin’s fork, it will be easier for proponents to gain approval. In addition to Litecoin, Balchunas also predicted that HBAR may be next since it’s not identified as a security, followed by XRP/Solana. However, XRP has the lowest odds of being approved since it has a pending lawsuit over its securities labelling. Related Reading: Bitcoin To $350,000? Top Crypto Influencer Makes Bold Prediction What’s Ahead For Spot Litecoin ETFs Canary Capital was the only company to file an application for Litecoin’s ETF. Analysts also expect Grayscale to follow suit if it decides to convert its Litecoin Trust, which boasts over $215 million in assets. Some experts say that the spot ETFs for Litecoin may have an uncertain future even if it gains SEC approval. Some say that it’s questionable whether institutional investors will pick these investments. Even Bitcoin and Ether’s spot ETF performances are relatively weak. For example, Bitcoin funds are backed by $107 billion in assets, representing just 5.7% of the total coin’s market cap. Ethereum, on the other hand, boasts $11.6 billion, just 2.96% of the total asset’s market cap. Since Litecoin is a smaller cryptocurrency project, many analysts don’t expect much from the spot LTC ETFs. Featured image from Pexels, chart from TradingView
The X account of cryptocurrency Litecoin briefly promoted a fake virtual token on the Solana network to its followers after a hacker temporarily gained access to the social media account. Related Reading: Could Germany’s Bitcoin Push Set A New Standard In Digital Currency? Fortunately, Litecoin’s social media team quickly took action and successfully regained control […]
The compromised social media account is merely the latest in a string of hacking incidents on X over the last several months.
Litecoin (LTC) has lately been experiencing significant momentum as it emerges from a protracted downtrend, causing quite a stir. Analysts are beginning to anticipate a promising future for the cryptocurrency, with some predicting that it could reach as high as $400 in the near term. A Quick Look Litecoin (LTC) is gaining momentum, with analysts targeting $400 due to its breakout from a long downtrend A potential Litecoin ETF and strong market signals boost its bullish outlook Stable utility and broader crypto market trends make LTC a key coin to watch Related Reading: Dogecoin To Hit $1? Expert Calls It A Realistic Goal For 2025 – Here’s Why Breakout Signs And Market Shifts After months of stagnation, Litecoin’s recent success has given people hope. The coin has gained a lot of speed, which suggests that it might be about to rebound. Even though the market has been unstable, Litecoin has shown that it can handle it, which suggests that its value could go up. Litecoin $400 Goal: Possible? The price of LTC is expected to reach $400 within the next few months, according to experts. A number of things have led to this hopeful prediction. Litecoin’s technical signs first and foremost point to the fact that an uptrend could be in the pipeline. There is also talk that the soon-to-be-released Litecoin ETF could be a game-changer, bringing in institutional buyers and increasing demand. $Ltc #Ltc Finally Trend Reverend After Long Downtrend Formed Higher High After Breaking Multiyear Symmetrical Triangle Expecting Move Towards 400$ In Midterm https://t.co/dMid3sxJzJ pic.twitter.com/AVbVaYw48e — World Of Charts (@WorldOfCharts1) January 5, 2025 Expanded Crypto Market Trends Another very positive sign has been the overall vigor in the general crypto market. The last few surges in Bitcoin and Ethereum have left a cascading effect that had its benefits spread all across altcoins to Litecoin. A large population also believes that Litecoin’s value in payments, coupled with the great history it boasts, is an important factor in setting it apart from other coins. Many quarters regard it as a reliable resource for merchants as well as investors on account of stable utility despite wild fluctuations in the price. Though not everyone believes that $400 is achievable in the short term, the momentum LTC has and the growing interest in it seem to make it a realistic goal. However, caution is always the key. Related Reading: Galaxy Digital Reveals Bold Dogecoin Price Prediction For 2025 Investors Must Pay Close Attention This clearly indicates that Litecoin has found a spot on the investor’s radar. It is one of those coins that is definitely worth watching out for in the coming months due to its potential institutional support, a strong market presence, and optimistic technical signals. At the time of writing, LTC was trading at $112.80, up 1.8% and 11.3% in the daily and weekly chart. Featured image from Pexels, chart from TradingView
Litecoin (LTC) has been experiencing a significant decrease in volatility, with a crypto analyst highlighting an unusual tightening in its bi-monthly (2M) Bollinger Bands (BB). According to an analyst, Litecoin’s current technical setup points to strong potential for a parabolic breakout, with the $130 price mark emerging as a critical resistance zone. Related Reading: Bitcoin Dominates 2024, Outperforms Gold And Major Indices – Details Narrow Bollinger Bands To Trigger Litecoin Breakout Prominent crypto analyst Tony Severino shared a price chart on X (formerly Twitter) showing Litecoin’s price action on a bi-monthly time frame, applying Bollinger Bands as a technical indicator to measure a cryptocurrency’s price volatility. The Bollinger Bands examine market volatility by plotting an upper and lower band around a Moving Average (MA), which acts as a basis line. In Litecoin’s case, Severino has indicated that the cryptocurrency’s 2M Bollinger Band width is extremely narrow, underscoring a lack of or significantly decreased volatility. Historically, Bollinger Bands are known to expand during periods of high volatility and tighten at low volatility. Severino’s Litecoin chart displays the upper Bollinger Band marked by the red line, the basis line by a blue line, and the lower band highlighted in the green area. The analyst disclosed that Litecoin’s candlesticks are currently positioned above the basis line at $83.3, indicating potential for bullish momentum. If the price of Litecoin continues upwards and crosses the upper Bollinger band at approximately $130, Severino predicts that it could trigger heightened volatility and an explosive price breakout. Based on historical trends, an extremely narrow Bollinger Band often indicates a potential for a bullish trend reversal after a period of consolidation. Severino’s analysis has pinpointed the upper BB at $130 as a crucial resistance area for Litecoin. A sustained break above this level on a high timeframe could pave the way for more gains, potentially pushing Litecoin significantly above its current market value of around $111.5. According to CoinMarketCap, Litecoin has recorded modest gains, increasing by 6.14% in the past 24 hours. Over the past week, the prominent cryptocurrency has also experienced a higher increase of about 11.7% to its current level. To reach the critical resistance area at $130, Litecoin is required to rise by approximately 18% from its market price. Litecoin Rally Predicted, Targets 38% Upside According to crypto analyst Mike on X, Litecoin is preparing for a significant breakout to a new price high. He forecasts that the cryptocurrency will record a 38% price rally from the breakout point at $106 to reach a fresh bullish target of $146.67. Looking at the analyst’s price chart, Litecoin appears to have broken the $102 resistance level and is approaching its next significant resistance at $122.77. The chart also highlights horizontal lines indicating critical resistance areas for Litecoin. Related Reading: Bitcoin Faces Critical Support Amid Long-Term Holder Selling Pressure—Analyst Mike has pinpointed a key support zone at $99.91 that could act as a safety net for Litecoin during a downtrend. Should Litecoin face a significant price drop below this support, the analyst points to the $86.97 and $74.43 price levels as the next potential support areas. Featured image from Pexels, chart from TradingView
On-chain data shows the Litecoin Daily Active Addresses indicator has seen a significant increase this year as compared to the last one. Litecoin Average Active Addresses Have Been Notably Higher This Year In a new post on X, the market intelligence platform IntoTheBlock has discussed about the year-on-year growth in the Daily Active Addresses for […]
Bloomberg ETF analysts Eric Balchunas and James Seyffart expect Litecoin and Hedera will also get spot ETFs, but aren’t convinced there’ll be much demand for them.
The market intelligence platform IntoTheBlock has explained why Litecoin (LTC) isn’t an asset to be overlooked based on its on-chain metrics. Litecoin Has Continued To Witness Significant Activity Recently In a new post on X, IntoTheBlock has discussed what the various key on-chain indicators have been like for the Litecoin network recently. Below is the infographic shared by the analytics firm. According to the data, there are currently around 370,000 daily active addresses on the Litecoin blockchain. An address is said to be ‘active’ when it participates in some kind of transaction activity on the network, whether as a receiver or sender. Related Reading: Bitcoin HODLing Rewards: Long-Term Holders Selling At 326% Profit The metric’s value basically tells us about the amount of users that are using the cryptocurrency. Another indicator, the daily transactions, provides information about the exact measure of activity that these users are taking part in. At present, LTC users are making 200,000 transactions every day. IntoTheBlock has pointed out that this level of user activity is higher than on other networks like Dogecoin (DOGE) and Cardano (ADA). “Much of this activity stems from Litecoin being one of the few cryptocurrencies actively used for payments,” notes the analytics firm. LTC offers cheap and fast transactions, so it has always been a network preferred as a mode of payments. The activity-related metrics continuing to be high (in fact, further growing over the past month) implies this selling point of the chain is still attracting users. Another metric in the infographic that correlates to activity is transaction volume, which keeps track of the daily total amount of USD value that’s being transferred to the network. Impressively, this indicator currently stands at $10.27 billion, which is higher than the coin’s total market cap. While Litecoin is continuing to do well in terms of activity-related metrics, the cryptocurrency has remained stagnant in terms of price growth. A result of this is that just 72% of the addresses on the network are sitting in some unrealized gain. Of course, this still means the majority are above water, but other networks like Bitcoin (BTC) have it close to the 100% mark right now due to the bull run. That said, another way to look at this could perhaps be that Litecoin has more relative room to run, since the risk of a mass selloff goes up the more investors get into profits. Related Reading: Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms It seems that a strong majority of the Litecoin userbase also thinks similarly, as 78% of the 7.94 million Litecoin holders have been HODLing since more than a year. “As one of the older Layer 1 networks still seeing significant usage, Litecoin shouldn’t be overlooked,” says IntoTheBlock. It only remains to be seen, however, whether LTC can finally translate its positive on-chain metrics into price appreciation or not. LTC Price Litecoin has suffered a plunge of around 8% over the last 24 hours, which has taken its price to $113. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
Crypto analyst Tony Severino said Litecoin is about to pull an XRP, suggesting that the coin could soon enjoy a parabolic rally. The analyst alluded to a bullish indicator on LTC’s chart, which showed that the crypto could witness this parabolic rally. Litecoin Is About To Pull An XRP, Here’s Why In an X post, Tony Severino said that Litecoin is about to pull an XRP, noting that the crypto is now above the monthly upper Bollinger Band. This suggests that LTC has undergone the necessary price correction and is now well-primed for a bullish reversal. The analyst’s accompanying chart showed that a wick to the upside was already forming for the crypto on the monthly chart. Related Reading: Shiba Inu Burns Spike 7,418% In 1 Week – Can SHIB Price Continue Pushing To New Highs? Severino didn’t give a price target for how high Litecoin could rally when this move to the upside occurs. However, the chart showed that the $150 and $300 price levels were in view, a rally that could ultimately pave the way for LTC to rally to its current all-time high (ATH) of $412. It is worth mentioning that the crypto analyst had also recently made a similar analysis for XRP. Before now, Severino mentioned XRP is just above the monthly upper Bollinger Band just as BB Width expands from the tightest squeeze in XRP history. He added that this is going to shock and awe. Since then, XRP has enjoyed a parabolic rally of over 200% and is now above the $2 mark, a level the analyst’s chart showed the crypto could surpass. Therefore, this Litecoin analysis is undoubtedly one to watch since the crypto analyst predicts that LTC will pull an XRP. Litecoin has yet to enjoy its bull run, although it already looks to be catching up, considering it is up over 24% in the last seven days. The Next Dino Coin To Run? Like Severino, crypto analyst Crypto Snorlax has also suggested that Litecoin will be the next ‘Dino coin’ to witness a parabolic rally. In an X post, the analyst highlighted a chart overlaying XRP’s price action over LTC’s. Based on this analysis, Crypto Snorlax revealed two interesting findings. Related Reading: Bitcoin Price Enters Parabolic Phase Of Cycle After Surge To $98,000 – Analyst Firstly, he noted that there is a strong correlation between old altcoins. With XRP recording a 5x price increase from its bottom range, the analyst expects Litecoin to follow shortly. Secondly, Crypto Snorlax revealed that Litecoin just broke above $115, an 18-month resistance. Therefore, Litecoin is well primed for a significant rally, having flipped this resistance to support. The analyst’s accompanying chart showed that LTC could enjoy up to a 3x price increase and reach as high as $450, which would mark a new ATH for the crypto. At the time of writing, Litecoin is trading at around $121, up over 20% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The crypto market witnessed a significant milestone last week as investment products recorded roughly $3.13 billion in net inflows globally, primarily driven by US spot Bitcoin exchange-traded funds (ETFs), according to data from CoinShares. This surge highlights growing institutional interest and confidence in the crypto market, with Bitcoin leading the charge. CoinShares reveals that the year-to-date net inflows into crypto funds have reached $37 billion, while total assets under management (AUM) soared to a new high of $153 billion. Related Reading: Bitcoin’s MVRV Metric Signals Market Heating Up—Here’s What Investors Should Know Bitcoin Takes The Lead, Altcoins Show Growth The recent inflows mark the seventh consecutive week of positive movements for global crypto investment products managed by leading firms such as BlackRock, Fidelity, Grayscale, and ProShares. A substantial portion of last week’s inflows, approximately $2.05 billion, originated from BlackRock’s IBIT product, underlining the dominance of US-based funds in the global space. These inflows outpaced the first-year debut of US gold ETFs, which attracted only $309 million. Bitcoin-based funds were at the forefront of the inflows, contributing $3 billion of the weekly total. This inflow coincided with Bitcoin’s continued price rally, drawing additional interest from institutional and retail investors. However, the higher prices also spurred a notable $10 million inflow into short-Bitcoin products, bringing the monthly figure for these products to $58 million — the highest since August 2022. While Bitcoin dominated, altcoins also attracted significant investment. Solana emerged as the second-most popular asset among institutional investors, with net weekly inflows of $16 million, surpassing Ethereum’s $2.8 million. Other altcoin-based funds also saw notable inflows, with XRP, Litecoin, and Chainlink attracting $15 million, $4.1 million, and $1.3 million, respectively. These inflows suggest growing confidence in the broader altcoin market, driven by price rallies and increasing adoption. Global Crypto Inflows And Regional Trends US-based funds’ dominance was evident in regional fund flows, accounting for $3.2 billion in net weekly inflows. However, this was slightly “offset” by outflows from European markets, including $84 million, $40 million, and $17 million from crypto investment products in Sweden, Germany, and Switzerland, respectively. Despite these regional outflows, the overall trend remains bullish, driven largely by institutional participation in the US market. Notably, CoinShares’s continuous inflows reflect a combination of factors, including the market’s positive sentiment regarding the bull run and the increasing acceptance of crypto as a legitimate asset class. Related Reading: Ethereum Price Poised for Gains: $3,600 Within Reach? The launch of spot Bitcoin ETFs has been a pivotal development. It provides institutional investors with a regulated avenue to gain exposure to digital assets. As a result, the cryptocurrency market is witnessing a shift toward mainstream adoption, further supported by strong price performance and consistent inflows across various investment products. Featured image created with DALL-E, Chart from TradingView
Litecoin price is consolidating above the $80.00 level against the US Dollar. LTC could start a fresh increase if it clears the $88.00 resistance zone. Litecoin is showing positive signs from the $80 support zone against the US Dollar. The price is now trading below $88 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC/USD pair (data feed from Kraken). The price could start a fresh increase if it clears the $88.00 resistance zone. Litecoin Price Eyes Fresh Increase After forming a base above $85, Litecoin started a fresh increase. LTC price broke the $88 and $90 resistance levels to move into a positive zone, like Bitcoin and Ethereum. The price gained over 10% and even cleared the $95 level. A high was formed at $98 before there was a pullback. The price dipped below $88 and tested $82. A low was formed at $81.69 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low. Litecoin is now trading below $88 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $85.00 zone. There is also a key bearish trend line forming with resistance at $86.00 on the hourly chart of the LTC/USD pair. The next major resistance is near the $88 level or the 50% Fib retracement level of the downward move from the $94.71 swing high to the $81.69 low. If there is a clear break above the $88 resistance, the price could start another strong increase. In the stated case, the price is likely to continue higher toward the $92 and $95 levels. Any more gains might send LTC’s price toward the $100 resistance zone. More Losses in LTC? If Litecoin price fails to clear the $86 resistance level, there could be another decline. Initial support on the downside is near the $82 level. The next major support is forming near the $80 level, below which there is a risk of a move toward the $75 support. Any further losses may perhaps send the price toward the $68 support. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for LTC/USD is below the 50 level. Major Support Levels – $82.00 followed by $80.00. Major Resistance Levels – $86.00 and $88.00.
As Bitcoin momentarily reached a new all-time high above the $93,000 mark, the Litecoin rally is beginning to shape up. Crossing over the $80 mark, a Morningstar patent teases a bull run ahead for Litecoin. Furthermore, its attempt to siphon momentum from the meme coin rally and the potential support from the Dogecoin team could …
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
On-chain data shows Litecoin has recently recorded its highest weekly volume since May 2023. Here’s what this could mean for the asset’s price. Litecoin Transaction Volume Has Been Rising Recently In a new post on X, Jay Milla, the director of marketing at Litecoin Foundation, has pointed out that the LTC network has witnessed a […]
The latest weekly digital asset fund flow report from CoinShares has revealed that last week, crypto asset investment products saw roughly $2.2 billion in net inflows globally, marking the largest inflow since July. This rise in inflows comes amid the gradual recovery of top crypto assets last week, with the majority now reclaiming major highs and registering nearly double-digit gains over the past 7 days. Related Reading: Can Bitcoin Price Reach A New All-Time High? This Golden Cross Suggests So Who Led the Charge? Bitcoin-based products were the standout beneficiaries of last week’s inflows. US spot Bitcoin exchange-traded funds (ETFs) added $2.1 billion, with BlackRock’s IBIT ETF alone generating over $1.1 billion. The cumulative inflows for these Bitcoin ETFs, which began trading in January, now stand at $21 billion. These funds have grown to manage a record $66 billion in assets under management, highlighting their significant role in the market. Notably, the renewed confidence in Bitcoin products mirrors earlier this year’s positive sentiment. Last week’s inflows were the largest since March, when US spot Bitcoin ETFs saw $2.6 billion as Bitcoin reached its all-time high above the $73,000 price mark. This strong demand suggests that investors remain bullish on Bitcoin’s long-term prospects, despite recent market fluctuations. While Bitcoin stole the spotlight, other cryptocurrencies also experienced inflows last week although way lesser than that of BTC. Ethereum-based products attracted $58 million in net inflows, while Solana, Litecoin, and XRP-based funds saw smaller inflows of $2.4 million, $1.7 million, and $700,000, respectively. However, multi-asset investment products did not fare well, experiencing net outflows of $5.3 million, ending a 17-week streak of consecutive inflows. What Prompted The Surge In Crypto Inflow? According to CoinShares, this surge in inflows is tied to growing optimism about the upcoming US elections, with a potential Republican victory driving investor sentiment. Many believe that a Republican administration would favor the digital asset market more favorably, leading to an increase in investor confidence and positive price momentum. James Butterfill, Head of Research at CoinShares, particularly noted: We believe this renewed optimism stems from growing expectations of a Republican victory in the upcoming US elections, as they are generally viewed as more supportive of digital assets. Notably, Butterfill, reiterated these views, adding that trading volume for these investment products surged by 30% last week. Total assets under management (AUM) for crypto funds are now nearing the $100 billion mark on a global scale, highlighting the substantial interest in digital assets. Related Reading: HODL Fever: Bitcoin Holders Refuse To Sell As Data Shows Record BTC Stash However, while US-based funds thrived, investment products in other countries such as Canada, Sweden, and Switzerland experienced net outflows, indicating a more polarized global market. Featured image created with DALL-E, Chart from TradingView
Following the filing of the spot Litecoin Exchange Traded Fund (ETF) in the United States, social engagement around Litecoin (LTC) has skyrocketed. Amid this attention from the crypto community, the LTC price has experienced an impressive price surge and is now poised for another significant rally in the coming days. Growing Social Engagement According to …
On-chain data suggests developments in these two Litecoin indicators could explain why the cryptocurrency has seen its latest price surge. Litecoin Volume & Social Dominance Have Surged Recently In a new post on X, the on-chain analytics firm Santiment has discussed about how the underlying metrics of Litecoin have looked during the latest surge in […]
With the Bitcoin price crossing above the $68,000 mark, the close cousins of Bitcoin are making a bullish comeback. The Litecoin price has surpassed a critical $73 mark in the recent crypto rally. With the bullish trend gaining momentum, let’s see the chances of the LTC price hitting the $100 psychological mark. Litecoin Price Analysis …
Today’s LTC price surge comes after Canary Capital filed for a spot Litecoin ETF and Bitcoin reached a multimonth high.
Litecoin price is gaining pace above the $70.00 level against the US Dollar. LTC could continue to rise if it clears the $72.80 resistance zone. Litecoin is showing positive signs from the $65 support zone against the US Dollar. The price is now trading above $70 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $68.00 on the hourly chart of the LTC/USD pair (data feed from Kraken). The price is up over 10% and might continue to rise if it clears the $72.80 resistance zone. Litecoin Price Gains Bullish Momentum After forming a base above $65, Litecoin started a fresh increase. LTC price broke the $68 and $70 resistance levels to move into a positive zone, like Bitcoin and Ethereum. The price gained over 10% and even cleared the $72 level. A high was formed at $72.74 and the price is now consolidating gains. It is stable above the 23.6% Fib retracement level of the upward move from the $65.29 swing low to the $72.74 high. Litecoin is now trading above $70 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $68.00 on the hourly chart of the LTC/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $65.29 swing low to the $72.74 high. On the upside, immediate resistance is near the $72.00 zone. The next major resistance is near the $72.80 level. If there is a clear break above the $72.80 resistance, the price could start another strong increase. In the stated case, the price is likely to continue higher toward the $75.50 and $78.00 levels. Any more gains might send LTC’s price toward the $80.00 resistance zone. Are Dips Supported in LTC? If Litecoin price fails to clear the $72 resistance level, there could be a downside correction. Initial support on the downside is near the $71.00 level. The next major support is forming near the $69.00 level, below which there is a risk of a move toward the $67.50 support. Any further losses may perhaps send the price toward the $65.00 support. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for LTC/USD is above the 60 level. Major Support Levels – $71.00 followed by $67.50. Major Resistance Levels – $72.80 and $80.00.
Canary Capital Group, a new digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, seemingly wants to become a leader in the world of crypto exchange-traded funds (ETFs) rather than a follower.
Despite being termed the ‘digital silver’, the Litecoin price has remained muted in the last year. The altcoin’s price saw a run-up back in 2023, leading up to its halving. Since then, it has failed to maintain this upward momentum, falling short of the triple-digit level. From here, though, it seems the tide might finally be changing for the Litecoin price, as a notable prediction from an analyst suggests that a rally could send the price to a new all-time high. Litecoin Price To Reach $7,000 According to a crypto analyst on the X (Formerly Twitter) platform, the Litecoin price is set to outperform all of the large cap cryptocurrencies in the market. The analysis focused on Litecoin’s long-term growth, which could see it surpass the likes of Bitcoin and Ethereum. Related Reading: Major Dogecoin Indicator Flashes Bullish, Is It Time To Buy? The chart shows that the LTC price is still trending below $70, which is an 84% decline from its all-time high price of $412. However, all hope is not lost as the crypto analyst believes that there is still more to come for the altcoin. Not only does the analyst believe that the Litecoin price will eventually cross the triple-digit level once again, they also believe that four-digit is in the cards for the altcoin. Targets for the Litecoin price include an initial surge that takes it above $100. From there, the crypto analyst expects the recovery to continue. An eventual break above the $1,000 level is mapped out, which would be an around 1,600% price increase from here. However, it doesn’t end there. The crypto analyst expects the price to eventually reach as high as $7,000. Now, if this were to play out, it would mean an over 11,000% price increase from the current price level. Related Reading: Analysts Predict Bitcoin Price Could Crash To $40,000, But There’s Good News As for the timeframe for when this is expected to play out, the crypto analyst seems to expect it to happen before 2026. This would put it in the expected 2025 bull run, where the likes of Bitcoin are expected to touch new all-time highs. But an 11,000% increase could easily make the Litecoin price the best performer out of the top 20 cryptocurrencies by market cap. “If you hate it or not, but IMO Litecoin will outperform all the big cap Crypto’s. See you at $7000,” the post read. On its own, the Litecoin price has not been very impressive. According to data from Coinmarketcap, the price is up only 1.42% in the last year, showing sluggish movement. Momentum has also declined rapidly, with total open interest remaining below $300 million for more than two months straight. Featured image created with Dall.E, chart from Tradingview.com
Traders could be waiting for Bitcoin to bounce off the $55,724 support opening positions in LTC, FET, MNT and AAVE.
On-chain data shows the Litecoin transaction volume has more than doubled in the last year, a sign that could be positive for the network. Litecoin Transaction Volume Has Shown Steady Growth Recently In a new post on X, Jay Milla, director at Litecoin Foundation, has discussed about the growth in on-chain activity that LTC has […]
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.