Litecoin (LTC) prices shot up 11% in the past 24 hours, printing a daily high of $131 and analyst predict $170 in the near future.
Litecoin LTC $85.26 24h volatility: 1.6% Market cap: $6.48 B Vol. 24h: $192.97 M , a crypto project based on Bitcoin BTC $104 983 24h volatility: 0.1% Market cap: $2.09 T Vol. 24h: $15.67 B released in 2011, skyrocketed a massive 11% in the past 24 hours, claiming a daily high at $131.67. At the time of writing, the altcoin trades at $127.19, unable to push the resistance wall that lies between $130-$135 price levels. However, the altcoin is still down 69.21% from its all-time high of $412 seen four years ago, as per CoinMarketCap data.
A major reason for this price surge in the past day is the United States Securities and Exchange Commission (SEC) acknowledging the 19b-4 filing for the spot Litecoin exchange-traded fund (ETF) application submitted by Canary Capital. The SEC has requested comments from market participants and the broader public for comments.
While the SEC acknowledged receiving the 19b-4 filing from Nasdaq for the listing and trading of the Canary Litecoin ETF, the agency now has 21 days to review these comments following the publication of the filing on the Federal Register. Bloomberg Senior ETF analyst Eric Balchunas confirmed that this is the first filing for an altcoin to reach such a stage, adding that “this filing is by far the furthest along, checking all the boxes”.
LTC Analysis by Market Participants
The crypto market participants on social media platform X (formerly Twitter) turned bullish on LTC, with one user highlighting the 400% increase in the network’s hash rate since the last breakout. Another X user gave an extremely bullish prediction for the Litecoin token at $2,000 by the end of the current bull cycle.
On the other hand, a crypto analyst “Trade Pro” showcased LTC token’s trend of “three-wave corrections”. As seen in the chart below, the cryptocurrency has already seen multiple three-wave corrections since August last year, the most recent one ending on January 28. However, one thing that remained constant in these corrections was the general uptrend for the cryptocurrency.
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Source: Trade Pro
As a result, “Trade Pro” believes that XRP could potentially skyrocket to $170 and then $295 in the coming days, following this three-wave correctional pattern. The analyst is massively bullish on Litecoin and believes that LTC could be the “top contender for the best crypto spot holding of 2025”.
Meanwhile, the daily chart provided by TradingView below shows that LTC has surged 10.22% in the latest daily candle, showing strong bullish momentum. The price is currently trading above the 20-day EMA, which suggests that the short-term trend is bullish.
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Source: TradingView
On the other hand, the RSI is at 59.29, swiftly approaching the overbought zone but still in a neutral range, indicating room for further upside. If LTC maintains support above $120, it could continue to test resistance around $130–$135 in the short term. However, a rejection at this level may result in a retest of the $116 EMA zone for support.
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