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Sahana Vibhute
Sahana Vibhute
Author
- Jan 30, 2025 09:24 UTC
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Why Litecoin Price is Up Today: Key Factors Driving Its 14% Surge
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LTC $ 84.31 (1.18%) 
Litecoin price surged by over 15% after the SEC acknowledged filing for Canary Spot Litecoin ETF
With the bearish target around $200, the bullish target for the upcoming LTC price rally remains above $500
The crypto markets reacted positively as the Fed held the interest steady. Many believed the markets may exhibit extreme volatility ahead of FOMC but the fresh rates offered a significant push to the BTC price and also the other altcoins. Meanwhile, Litecoin’s price seems to have been preparing for the breakout, as it triggered a strong rebound much before the FOMC and, amid the SEC’s review of the ETF application, surged by over 14%.
Why Litecoin Price is Up Today
Litecoin is considered one of the most undervalued tokens as it is the first crypto after Bitcoin, which is still working. In the times when the token appeared dead for many, the LTC price displayed a huge bullish move. The LTC price rally has been restricted below $100 through the year 2023 and 2024 and now that the price is consolidating above the range since the start of 2025, a new ATH seems to be imminent this year.
The weekly chart of LTC price shows the price is preparing for the next bullish action as the levels have sustained above the 200-day MA. Moreover, the 50/200 day weekly MA is heading for a bullish crossover, known as Golden Cross, which may further push the price beyond the resistance at $205. Besides, the MACD, which was about to undergo a bearish crossover, quickly displayed a bullish divergence and revived bullish hopes.
Hence, the Litecoin price is believed to break above the prevailing consolidation and rise above the pivotal range of around $150. The rise in volume suggests a rise in the trader’s participation, which may eventually increase the volatility of the token. Therefore, the price, which has been within the top 20, is soon believed to enter the top 15 as the bulls are primed to elevate the levels beyond $300.
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FAQs
Litecoin’s price surge is driven by positive market sentiment, technical indicators, and anticipation of a potential breakout above $150.
Given the current bullish trend, Litecoin could surpass $300, especially if it breaks resistance levels and maintains strong volume growth.
Yes, Litecoin is often considered undervalued as the first major altcoin, with potential for significant price appreciation due to its stability.
Yes 
No 
