Bloomberg analysts give Litecoin ETF a 90% probability of approval compared to other altcoin ETFs
SEC decision on Canary Capital’s spot LTC ETF is due Monday, May 5, 2025
LTC price currently hovers around $86-87, showing strength with daily trading volumes up 31% to $338 million
Analyst Crypto Patel predicts potential short-term price targets of $255 and $500
LTC has broken out of its multi-year resistance and $65-85 accumulation range
Litecoin’s price remains steady at around $86-87 as the cryptocurrency market eagerly awaits the Securities and Exchange Commission’s (SEC) decision on Canary Capital’s spot Litecoin Exchange Traded Fund (ETF), expected Monday, May 5, 2025.
Bloomberg analyst James Seyffart has pointed out that Litecoin has a higher chance of ETF approval compared to other cryptocurrencies. While the SEC recently delayed decisions on ETF filings for assets like Dogecoin and XRP, it has not postponed its review of Canary Capital’s LTC ETF.
The approval odds for a Litecoin ETF currently stand at an impressive 90%, according to Bloomberg analysts. This is higher than XRP ETFs at 85%, Dogecoin at 80%, and Cardano at 75%.
Canary Capital filed its Litecoin ETF proposal on October 15, 2024, as an S-1 registration statement with the SEC. This was followed by a 19b-4 filing from Nasdaq on January 16, 2025, to move the regulatory review forward.
Two other Litecoin ETF proposals from Grayscale and CoinShares are also under review. The SEC has until October to decide on all three Litecoin proposals.
Market Technical Analysis
Litecoin’s price currently shows bullish potential, supported by critical levels around $84 established by the 4-hour 100 and 200-day Exponential Moving Averages (EMAs).
A break above the 50 EMA and the ascending trendline resistance could open the path for gains toward the psychological $100 mark. However, traders should expect some resistance in the $88-$90 range.
The Relative Strength Index (RSI) could confirm a potential trend reversal targeting $100 if it moves above the midline at 50. With LTC holding above all three key moving averages—the 50, 100, and 200 EMAs—the upward trend looks likely to continue.
Long-Term Price Predictions
Crypto analyst Crypto Patel believes Litecoin is positioned for a major rally. According to Patel, LTC has broken out of its accumulation range of $65-$85, setting up short-term price targets of $255 and potentially $500.
$LTC MACRO BREAKOUT – NEXT LEG INCOMING?#LITECOIN confirmed a breakout above its multi-year resistance line after holding the Best Accumulation Zone for months!
“Despite testing investors’ patience, LTC remains poised for a sharp move,” Patel stated. He emphasized the potential for a dramatic surge in this bull market.
Even more ambitious are Patel’s long-term predictions, which put LTC at $1,000 to $1,458+ in the future.
Trading volume further supports these bullish outlooks, with daily volumes for LTC surging 31% to more than $338 million recently.
If traders want to capitalize on Litecoin’s potential rise toward $100, they should watch for support above the 50-day EMA and the ascending trendline, which would encourage buying.
Beyond the confluence support at $84, the next potential anchors for LTC lie in the demand zones of $81 and $75, respectively.
The broader crypto market sentiment will also affect Litecoin’s performance this week, especially with the Federal Reserve expected to announce its decision on interest rates.
U.S. President Donald Trump has urged Fed Chair Jerome Powell to cut interest rates. However, persistent inflation and trade tensions between the U.S. and China may complicate the Fed’s decision-making process.
The SEC’s decision on the Litecoin ETF comes at a time when demand for Bitcoin ETFs is once again increasing, with strong inflows reported during the last week.
As the May 5 deadline approaches, all eyes are on the SEC’s decision, which could potentially trigger the next major move in Litecoin’s price.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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