Litecoin Rallies 7% as SEC Expected to Greenlight Spot ETF with High Probability

Litecoin Jumps 7% on 90% Likelihood of SEC Spot ETF Approval, Analysts Say

Litecoin (LTC) has surged by 7%, fueled by analysts’ predictions that the U.S. Securities and Exchange Commission (SEC) is highly likely to approve a spot Litecoin ETF. With a 90% chance of approval, according to top analysts, this has sparked renewed investor interest and optimism in the digital asset.

Eric Balchunas, an analyst at Bloomberg, highlighted that the odds of SEC approval for a Litecoin spot ETF are increasing, with a decision expected to come in the near future. If approved, the ETF could unlock institutional investments and significantly boost Litecoin’s market liquidity and price.

Market and Technical Insights

Litecoin broke past resistance levels, climbing 7% as the price hit $87.50, supported by growing institutional interest ahead of the potential SEC decision.
The asset has seen strong upward momentum, breaking key technical barriers with a push above $85.00, and the next target sits at $90.00.
LTC-USD has found stability near $86.50, with analysts suggesting that a sustained rally above this mark could open the path to $90.00 and beyond.
The asset is also showing bullish signs in the relative strength index (RSI) and other momentum indicators, pointing to continued upward pressure.
As Litecoin closes near $87.25, eyes are now on the $88.50 resistance level, with analysts forecasting a potential breakout if the SEC’s decision is favorable.
Litecoin’s surge is expected to continue with potential gains up to $90.00 if the SEC approves the ETF, further solidifying its position in the crypto market.