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Litecoin (LTC) Price Prediction: Whats Next for the Digital Silver?

Litecoin (LTC) Price Prediction: Whats Next for the Digital Silver? WikiBit 2025-01-17 21:06

Litecoin (LTC) surged over 50% this week after bouncing off local support around the $90 price regio

Litecoin (LTC) surged over 50% this week after bouncing off local support around the $90 price region. The cryptocurrency, often called “digital silver,” rallied strongly, sparking predictions of a potential breakthrough above $150 and higher price levels.

LTC whales have embarked on a massive accumulation of the first-generation cryptocurrency, per on-chain data. This buying spree is largely attributed to market speculation surrounding Canary Capitals potential Litecoin ETF application. Analysts believe this development is fueling optimism and increased activity.

Related: SEC Responds to Litecoin ETF Filing as Market Eyes Approval

Litecoins Recent Price Performance

In the meantime, TradingViews data show that Litecoin has surged over 13% in the early hours of todays trading session, signaling a sustained momentum in the current rally. LTC traded for $139.92 at the time of writing, marking only the second time the cryptocurrency has reached this level since February 2022.

The price rally coincides with Donald Trumps upcoming inauguration as U.S. President, boosting crypto market sentiment. Many investors anticipate favorable policies under the new administration. While LTC enjoys a bullish trend, other cryptocurrencies, including XRP, ADA, and XLM, have also posted notable gains this week.

Related: Litecoin Holders Show Long-Term Confidence, Short-Term Trading Spikes During Rallies

Nonetheless, heightened speculation about Canary Capital‘s LTC ETF application’s approval remains the main tailwind behind Litecoins recent move. Renowned Bloomberg ETF analyst Eric Balchunas recently stated that a Litecoin ETF would most likely be the next spot crypto ETF that the U.S. will approve.

Breaking above $150 will clear the road to its path toward the next major target of $200, triggering a full-fledged bull run. Such a move would position Litecoin as a leading contender in the upcoming altcoin season.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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