Price Analysis View Non-AMP

Will Litecoin Price Hit $100 as ETF Hopes and Bitcoin Surge Fuels Momentum?

Published by
Sohrab Khawas

As Bitcoin surges past the $67,000 mark, Litecoin price gains momentum amid the broader market recovery. Adding a boost to the bullish sentiments, the recent move from the Canary Capital, filing an S-1 form for a Litecoin ETF with the U.S. Securities and Exchange Commission, increases the breakout rally possibility. 

Will Litecoin surge beyond the $100 psychological mark if the Litecoin ETF is approved? Let’s find out now in Coinpedia’s Litecoin price analysis.

Litecoin Price Analysis

In the daily chart, the Litecoin price action projects a falling wedge breakout rally, gaining momentum and continuing a bullish trend. The uptrend stands at a crossroads, facing a confluence of resistance. It includes the 38.20% Fibonacci level, the overhead resistance trendline, and the dynamic resistance of 200 EMA. 

The bull cycle within the rising channel pattern was propelled by the bull run in Bitcoin and the Litecoin ETF news. The bull run accounted for a nearly 10% price jump within two days, creating two consecutive bullish candles. 

Currently, the Litecoin price trades at $70.50 and shows an overhead rejection, teasing a potential turnaround within the channel. 

Technical Indicators:

MACD indicator: As the LTC is making a minor comeback, the MACD indicator shows a bullish crossover fueled by the resurfacing positive histograms. 

EMA: The possibility of a golden crossover will significantly increase if Litecoin gives a bullish breakout of the rising channel. 

Hence, the technical indicators bolster the bullish trend.

Will Litecoin Prices Surpass $80?

The uptrend continuation will solely depend upon the ability of Litecoin price to close above the 38.20% Fibonacci level. In case of a bullish breakout, the LTC price can reach a major resistance at 61.80% Fibonacci level, around $85. 

Optimistically, if the Litecoin ETF is approved by the SEC, the sentimental boost could trigger a breakout rally toward the $100 psychological level. On the flip side, the crucial support for the LTC price is present at $60 and $56.

As Bitcoin targets $100k, are you curious about how high Litecoin will go in 2024? Check out Coinpedia’s Litecoin (LTC) price prediction to find price targets above $100.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Crypto Trading Fraud Soars in India and Beyond: MEXC Rings Alarm Bells

A recent report from the crypto exchange MEXC has revealed a worrying trend in fraudulent…

May 31, 2025

Coinpedia Digest: This Week’s Crypto News Highlights | 31 May, 2025

Hello again! If you thought May was going to close out quietly, think again. This…

May 31, 2025

Tron (TRX) Shows Steady Growth This Month, Yet Smart Investors Are Focused on Ruvi AI’s (RUVI) Upcoming $1 Valuation Listing

The cryptocurrency market is as dynamic as it gets, with new projects constantly vying for…

May 31, 2025

Ethereum’s Smart Future Starts Here , Could Wall Street Ponke Deliver the 100x Edge?

Ethereum is becoming more popular, but popularity alone is not enough. ETH is holding firm…

May 31, 2025

Ethereum Can Only Go Higher If Its Tools Keep Up , Pepeto Is One Of Those tools

Ethereum has always led the way for smart contracts and decentralized apps. But with more…

May 31, 2025

Top 3 Crypto Gems Under $0.50 Set to Soar in the Next Bull Run

As crypto investors prepare for the next major breakout, low-cost opportunities are drawing serious attention.…

May 31, 2025