LTC jumps over 7% as ETF approval odds rise

The Litecoin price jumped on February 10, leaving its recent consolidation phase, while optimism around the potential approval of an ETF SPOT LTC this year remains strong.

Litecoin (Thal) rallied more than 10% to an intra -day summit of $ 114.33 on Monday. It has now climbed 104% compared to its lowest point in 2024. Altcoin market capitalization was seated at more than $ 8.5 billion while its daily negotiation volume has doubled at almost 1 billion dollars.

The largest driver behind LTC prices overvoltage is growth anticipation of a Litecoin andf spot Get the green light from the American Commission for Securities and Exchange by the end of the year. Polymarket data show that the chances of approval increased to 81%, most merchants betting on a launch this year.

While other Etf Crypto, like those for Solana (GROUND) and Hedera (Hbar), are in the pipeline, the dry could be more open to the approval of an ETF Litecoin because of its similarities with Bitcoin. Previously, Bloomberg analyst Eric Balchunas, a extended This Litecoin could be the next cryptocurrency to obtain an ETF, citing the “chatter” industry.

Litecoin, being a bitcoin (BTc) Hard Fork, works on a network of work proof like BTC, which means that the dry considers it as a digital merchandise. So there is really no good reason for the agency to deny an ETF Litecoin.

The price of Altcoin should therefore increase while traders bet on a higher institutional request leading to FNB approval.

Strong chain metrics support the LTC rally

The current LTC rally was supported by solid fundamentals. According to Coinglass dataThe open interest in the term contract market on LTC jumped 10.8% in the last day to $ 549 million, with a positive weighted funding rate, which means that the majority of traders are Notice that prices will increase.

In addition, the total number of LTC holders increased in last week, according to health data.

Meanwhile, major LTC holders, especially those who have between 10k-100k LTC, have also increased in the last 10 days.

Current accumulation models reflect the confidence of traders in the SLD, which is obvious by its weighted social feeling, which has also improved in the past few days.

On the LTC / USDT price table at 1 day, the MacD line is ready to cross the signal line, which could point out a bullish reversal. Meanwhile, the RSI climbed to 54, moving above the neutral brand, which means that the momentum was moving in favor of the bulls, although a movement around 60-70 would provide a stronger confirmation.

In addition, the Chaikin silver flow index with positive reading suggests a strong purchase pressure supporting the current LTC rally, driven by an influx of new funds or capital.

According to For pseudonym analyst Carl Moon, Litecoin could rally in the short term. In particular, the LTC has emerged from an ascending triangle motif, a bullish signal which generally indicates a transition from consolidation to the dynamics of upward prices. As shown in the 4 -hour picture that he shared in a recent post X, the break occurred on February 10, the measured movement of the model pointing towards a target of $ 128.

Meanwhile, his other analyst Santolita expects the LTC to reach $ 200 at the end of February. (See below.)

At the time of the press, LTC exchanged hands at $ 117.05 per room.