Litecoin (LTC) Value Prediction: What’s Subsequent for the Digital Silver?

• Litecoin (LTC) surged over 50% this week after bouncing off native help.
• Crypto analysts anticipate LTC to interrupt above $150 quickly.
• A possible ETF approval is the tailwind behind Litecoin’s current worth surge.

Litecoin (LTC) surged over 50% this week after bouncing off native help across the $90 worth area. The cryptocurrency, typically known as “digital silver,” rallied strongly, sparking predictions of a possible breakthrough above $150 and better worth ranges.

LTC whales have launched into a large accumulation of the first-generation cryptocurrency, per on-chain knowledge. This shopping for spree is basically attributed to market hypothesis surrounding Canary Capital’s potential Litecoin ETF utility. Analysts imagine this improvement is fueling optimism and elevated exercise.

Associated: SEC Responds to Litecoin ETF Submitting as Market Eyes Approval

Litecoin’s Latest Value Efficiency

Within the meantime, TradingView’s knowledge present that Litecoin has surged over 13% within the early hours of right this moment’s buying and selling session, signaling a sustained momentum within the present rally. LTC traded for $139.92 on the time of writing, marking solely the second time the cryptocurrency has reached this degree since February 2022.

The value rally coincides with Donald Trump’s upcoming inauguration as U.S. President, boosting crypto market sentiment. Many traders anticipate favorable insurance policies underneath the brand new administration. Whereas LTC enjoys a bullish development, different cryptocurrencies, together with XRP, ADA, and XLM, have additionally posted notable positive factors this week.

Associated: Litecoin Holders Present Lengthy-Time period Confidence, Quick-Time period Buying and selling Spikes Throughout Rallies

Nonetheless, heightened hypothesis about Canary Capital’s LTC ETF utility’s approval stays the primary tailwind behind Litecoin’s current transfer. Famend Bloomberg ETF analyst Eric Balchunas lately said {that a} Litecoin ETF would more than likely be the subsequent spot crypto ETF that the U.S. will approve.

Breaking above $150 will clear the street to its path towards the subsequent main goal of $200, triggering a full-fledged bull run. Such a transfer would place Litecoin as a number one contender within the upcoming altcoin season.