LTC jumps over 7% such as ETF approval quotas

The price of LiteCoin increased by 10. February, breaking his recent consolidation phase, as optimism about the potential approval of the LTC ETF, this year, remains strong.

Litecoin (LTC) Over 10% of Intraday have been gathered at $ 114.33 on Monday. She now built 104% of the lowest point in 2024. Years. Allcoin market cap was sitting over $ 8.5 billion while the daily scope of trading doubled at almost $ 1 billion.

The biggest driver behind the LTC attack is growth anticipation from a Spot Litecoin ETF Getting green light from American securities and exchange commissions by the end of the year. Data polymarket show the chances for approval jumped to 81%, and most traders bet on launch this year.

While other crypto ETFs, like those for Solana (Salt) and Hedera (Hbar), are in the oil pipeline, SEC could be open to Litekoin ETF approval due to its similarities to Bitcoin. Earlier, Bloomberg analyst Eric Balchunas guess In order for Litecoin to be the next cryptocurca to get the ETF, stating the “Chat” industry.

Litecoin, be Bitcoin (BTc) Hard forklifts, operates online evidence just like BTC, which means that SEC is considered digital goods. So, really is not a good reason that the Agency denies Litekoin ETF.

Therefore, the AllCoin price is expected to climb to traders to higher institutional demand, which has led to ETF approval.

Strong metric metrics on chain support LTC Rally

The current LTC rally is supported by a solid basis. According to coigiglass dataThe open interest in the LTC Futures market jumped 10.8% last day up to $ 549 million, with a positive weighted funding rate, which means that most traders will consider that prices will increase more.

Furthermore, the total number of LTC owners increased over the past week by santimental data.

Meanwhile, large LTC owners, especially those held between 10K-100K LTCs, also increase in the last 10 days.

Current accumulation forms reflect the trust of trader in LTC, which is obviously weighted social sense, which has also improved in the last few days.

On the One-Day LTC / USDT PRICE Card, the MACD line is ready to go over the signal line, which could signal a Bullo Reversal. Meanwhile, RSI went to 54, moving above the neutral brand, which means that the momentum switched in favor of bulls, although the move towards 60-70 would give stronger confirmation.

In addition, the cash flow index Chaikin with a positive reading suggests strong purchasing pressure that supports the current set of LTC, which is driven by the inflow of new money or capital.

Toward At the pseudoniman analyst Carl Moon, Litecoin could come together in a short time. Significantly, the LTC broke out of an upward triangle, a bakery signal that usually indicates the transition from consolidation to upgrade moments. As shown in a 4-hour chart that shared in a recent X post, the passage occurred 10. February, and the form was measured relating to the goal of $ 128.

Meanwhile, a colleague analyst Santolita expects LTC to hit $ 200 until the end of February. (See below.)

At the time of pressing, the time LTC exchanged the hands to $ 117.05 per coin.