Litecoin ETF Approval Could Propel LTC Price to $800
Crypto analyst EXCAVO suggests that upcoming Litecoin ETFs could drive LTC's price to $800 by the end of the current bull cycle. Key points include:
- Litecoin is a Bitcoin fork with limited technological differences.
- Grayscale, Canary Capital, and CoinShares have applied for Litecoin ETFs.
- Bloomberg analysts estimate a 90% chance of SEC approval for these funds this year.
- Technical analysis indicates strong breakout potential due to horizontal resistance patterns.
Additionally, analyst Dom predicts Litecoin's short-term price will reach $180, asserting that it has not peaked in this cycle. He highlights:
- LTC remains bullish above its all-time high VWAP.
- A drop below $103 would invalidate this bullish outlook.
Other analysts also express bullish sentiments, with projections of LTC reaching up to $210 during a potential rally. As of now, Litecoin trades at approximately $123, down almost 1% in the last 24 hours.
