Litecoin (LTC) price surged more than 7% on Thursday, outperforming the broader market gauge CoinDesk 20 Index, which climbed about 4%. This noteworthy increase comes amidst growing anticipation regarding the approval of a spot Litecoin ETF. Bloomberg Senior ETF Analyst Eric Balchunas recently reported that the chances for approval have surged to 90%, with a critical deadline set for October 2nd. Should this approval come to fruition, it could significantly broaden LTC’s institutional investor base and potentially catalyze substantial price appreciation.
Technical Analysis Highlights
- LTC-USD exhibited significant volatility with a 7.51% range ($81.82-$88.03), establishing strong support around $84.00, according to CoinDesk Research’s technical analysis data model.
- Price action formed an ascending channel with successful reclamation of the $86.00 level in the most recent 48 hours.
- Strong buying interest appeared during the recovery phase, with accumulation at key Fibonacci retracement levels.
- Current momentum suggests potential continuation toward $88.50 resistance, with $85.50 serving as validation support.
- In the last 100 minutes of trading, LTC recovered from the mid-$86 range to above $87.19 after forming a higher low at $86.36.
- Particularly strong buying interest occurred during the 14:14-14:17 UTC period when LTC reclaimed the $87.00 psychological level.
- The final hour showed increasing momentum with consecutive higher highs and higher lows, closing at $87.19 just below $87.25 resistance.
- A bullish price structure combined with declining selling pressure suggests potential continuation toward $88.00 if $87.00 in support holds.
Analysts and investors alike are closely monitoring these developments, as the unfolding scenario could have significant implications for Litecoin’s trajectory in the near future. The positive correlation between ETF news and price performance demonstrates the growing importance of institutional interest in the cryptocurrency market.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
External References:
- Cryptopolitan, Litecoin Price Prediction 2025-2031: Will LTC Recover to $200 Soon?, published April 30, 2025.
- Bitcoinist, Bitcoin Nears Golden Cross as MVRV Ratio Builds Momentum – Is a Breakout Coming?, published April 7, 2025.
- Invezz, Solana and Litecoin ETF Approval Odds Are Very High, Says Bloomberg Analyst Balchunas, published April 30, 2025.
- BitcoinWorld, Litecoin ETF and Solana ETF Approval Odds Skyrocket: Bloomberg Analysts Predict Astonishing 90% Chance, published April 30, 2025.
- Coinpedia, Litecoin, Solana, XRP Among Top Crypto ETFs Set for 2025 Approval, published April 30, 2025.
