A big news has come out for Crypto Investors. According to Bloomberg’s Analyst James Seyffart, the LiteCoin Spot ETF filed by Canary Capital is extremely close to the Approbation. He has described it as the strongest contender with a 90% chance, which is being considered far beyond the DOGECOIN and XRP ETF.
What is the current status of LiteCoin ETF?
Canary Capital gave its ETF Proposal on 15 October 2024. After this, NASDAQ carried it forward in January 2025 through 19B-4 filing. Now this filing is kept for approval in front of SEC (Securities and Trade Fee). While the ETF submitting of DOGECOIN and XRP has been delayed, Litecoin The filing has moved forward without any interruption, which has led to the strongest possibility of approval.
More companies are in the race
In addition to Canary Capital, large companies like Grayscale and Coinshares have also applied for LiteCoin ETF. All these proposals are expected to be decided by October 2025. But according to Bloomberg Analyst, the proposal of Canary Capital is considered to be the strongest.
LiteCoin’s current market status
LiteCoin (LTC) touched a level of about $ 86 in Monday’s Asian Trading Session, while the entire crypto market looks stable. According to technical analysis:
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LTC is built on a strong support zone of $ 84.
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It is trading 100 4-hour EMA and 200-day EMA.
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If the LTC crosses 50 EMA and the essence trendline, it can soon reach $ 100.
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However, a little resistance may be seen at the level of $ 88 to $ 90.
What is RSI indicating?
The RSI (Relative Power Index) of LiteCoin remains above 50, which suggests that there is an atmosphere of bully in the market. This indicates that the purchase pressure is increasing and prices may go up.
What should be kept in mind?
LiteCoin Worth There are also some other factors affecting:
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Decision taken by US Federal Hold at interest rate
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Inflation
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Trade relations between US and China
All these factors can change the price of LTC.
Advice for traders
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If you are thinking of trading in LiteCoin, then keep an eye on the support levels given below:
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$ 84
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$ 81
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$ 75
At the same time, one should wait for a brakeout of $ 100 upwards.
Conclusion
The potential ETF Approbation to LiteCoin can be a big game-changer for the crypto market. If SEC approves it, then both LTC Worth and Demand may be accelerated. This is an important time for investors and traders where the correct decision can give big benefits.
Also read:Fund NFT vs Rarible NFT, what is the major difference between both?
