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Will LTC Hit $135? How the Buzz Around ETF Approval Is Fueling Its Surge
In the latest ltc news, Litecoin (LTC) has surged an impressive 11%, reaching a price range of $129 to $131. This remarkable performance outpaced both Bitcoin and Ethereum amid a broader market pullback. The surge can be attributed to the renewed momentum surrounding potential spot ETF approvals, which has spurred traders to increase their bids significantly.
Trading volume for Litecoin skyrocketed by 143% to a staggering $1.66 billion. Simultaneously, futures open interest rose by 25%, hitting $1.21 billion. These metrics indicate new leverage in the market and a growing conviction among traders regarding LTC’s potential trajectory. As the excitement builds, analysts point to the growing confidence that a U.S.-listed spot Litecoin ETF could soon be approved.
The latest updates have come from Canary Capital, which recently filed an updated S-1 application, now featuring the ticker LTCC and a management fee of 0.95%. This detail is often seen as a precursor to imminent approval, according to ETF watchers. With other major players like Grayscale and CoinShares also in pursuit of similar ETFs, analysts suggest that LTC’s established proof-of-work history and commodity-like characteristics position it as an attractive candidate for regulated fund access once the SEC resumes normal operations.
Litecoin Technical Setup: Eyes on $130 for a Potential Breakout
From a technical standpoint, Litecoin’s price action has been noteworthy. It recently blasted through the swing high of $127.45 and has reclaimed crucial moving averages (7-day and 30-day SMAs). This shift transforms the previously resistant multi-month range into a potential support floor.
The Relative Strength Index (RSI) currently stands at 68, indicating strong momentum without signs of an imminent blow-off. Additionally, the Moving Average Convergence Divergence (MACD) remains firmly positive. Immediate resistance for Litecoin is identified between $130 and $131. A daily close above this range could pave the way for further gains toward $134 to $135, and potentially even $138 and $150.
If the ETF headlines continue to stir up investor enthusiasm, bullish traders anticipate a broader vacuum that could propel Litecoin toward the $150 to $160 range, marking its highest levels since early 2022. Some technical analysts have also noted a potential breakout from a year-long diagonal trend, which, if confirmed, could set a stretch target of $275 in the coming months. However, this scenario will likely depend on sustained inflows driven by ETF-related excitement.
Key Levels to Watch and Potential Risks
For momentum traders, the critical support level is positioned at $125. If Litecoin loses this level decisively, quick profit-taking could drag its price back into the $122 to $125 support zone, with a deeper retest possible around $115 to $118. Conversely, if Litecoin can hold above $125 and reclaim $130 with substantial volume, bulls could maintain control, setting their sights on the $135 to $138 range.
Macro factors remain a swing influence; the timing of a potential government shutdown, the SEC’s operational pace, and the overall appetite for risk in the crypto market could inject volatility.
As long as Litecoin remains above $125 and manages to flip $130 to support, the breakout towards $135 to $138 appears achievable. A favorable signal for LTCC could be the catalyst necessary to extend the momentum toward the $150 to $160 zone.
For those tracking Litecoin’s price movements, keeping an eye on the $130 level is crucial, as it represents the gateway to the next significant leg up.
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