On January seventeenth, Thursday, the crypto market skilled a notable uptick as Bitcoin worth makes an attempt to retake the $100k mark. Among the many high 100 cryptocurrencies, Litecoin worth takes the lead with a 20% surge amid the thrill round potential LTC ETF. The renewed restoration set the asset to problem a resistance held for over 1000 days. Is a breakout imminent?
At present, the LTC’s market cap stands at $9.65 Billion, and the 24-hour buying and selling quantity is at $2.58 Billion.
Key Highlights:
- Nasdaq filed a proposal with the SEC underneath Rule 19b-4 to record and commerce the Canary Litecoin ETF,
- Within the present correction, the $117 and $88 stands as key assist for crypto patrons.
- The Litecoin worth is 13.5% brief from a decisive breakout of the cup and deal with sample..
Litecoin Value Soars as ETF Submitting Sparks Bullish Momentum
In a three-day rally, the Litecoin worth surged from $97.5 to $127.7, registering a progress of 31%. Thus, a bullish turnaround may be attributed to Nasdaq submitting a proposal with the Securities and Trade Fee (SEC) underneath Rule 19b-4 to record and commerce the Canary Litecoin ETF.
This transfer indicators what might doubtlessly be the primary altcoin ETF of 2025, marking a historic second for Litecoin (LTC) and the broader altcoin market. If accepted, this ETF might legitimize Litecoin within the eyes of conventional buyers, doubtlessly driving its demand and market profile.
Including to the bullish be aware, the LTC futures open curiosity exhibits a pointy surge to $571 Million. This knowledge from CoinGlass hits implies rising dealer exercise and heightened anticipation for potential worth motion.
Cup&Deal with Sample Drives LTC Restoration
An evaluation of Litecoin’s weekly chart exhibits the formation of a cup-and-handle sample. The sample shows an extended accumulation zone since January 2022 and a short lived pullback to regain bullish momentum.
At present buying and selling at $127, the LTC worth is 13.5% brief from difficult the important thing neckline resistance of $144. The present momentum pushed by broader market restoration and ETF buzz might probably surpass this barrier and flip to potential assist.
The post-breakout rally might push the asset one other 72% to hit $250.
Quite the opposite, if sellers defended neckline resistance, the present consolidation might delay to subsequent month.
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