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The Litecoin price surged over 13% in the last 24 hours to trade at $123.55 as of 9:56 p.m. EST as investors go long on the altcoin.
The jump in the LTC price comes as Bloomberg analysts say the probability of a spot Litecoin ETF (exchange-traded fund) getting approved in the US in 2025 is greater than the odds for any other crypto fund.
Our official alt coin ETF approval odds are out. Litecoin leads w 90% chance, then Doge, followed by Solana and XRP. We are only doing for 33 Act $IBIT-esque filings. But def poss to see futures or Cayman-subsidiary type 40 Act stuff get through as well. https://t.co/JSaNnifjbu
— Eric Balchunas (@EricBalchunas) February 10, 2025
Both analysts posted on X, saying that the path toward a spot LTC ETF receiving approval may be the most straightforward since S-1 and 19b-4 forms have already been filed and acknowledged by the US Securities and Exchange Commission (SEC), while the regulator likely views Litecoin as a commodity as well.
Litecoin Price Attempting A Challenge At The $124.05 Resistance
4-hour chart for LTC/USD (Source: GeckoTerminal)
The Litecoin price was able to break above the resistance level at $118.22 in the last 24 hours and is now attempting to overcome the next barrier at $124.05, data from GeckoTerminal shows. Should the altcoin close a 4-hour candle above this second technical obstacle within the next 12 hours, it could have the foundation needed to rise to as high as $131.70.
On the other hand, a rejection from the $124.05 resistance might mark the end of the crypto’s bullish move. In this alternative scenario, the Litecoin price could end up testing the recently-flipped mark at $118.22 as support. With enough pressure from bears, LTC might end up plunging to the subsequent support level at $110.21.
Technicals Suggest The Litecoin Price Might Keep Rising In The Short Term
From a technical standpoint, indicators on LTC’s 4-hour chart suggest the Litecoin price could keep climbing in the next couple of hours. More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing bullish signs.
Over the last few hours, RSI readings have climbed from the mid 50s to the high 70s, which suggests increasing buyer strength.
While high RSI readings are usually seen as a sign that a crypto’s downside potential is greater than its upside potential, it is not unusual for RSI readings to remain high for a sustained period of time when a crypto is pumping. The positive slope of the RSI line suggests LTC might keep rising in the short term.
Meanwhile, the MACD line is positioned above the MACD Signal line. Traders generally interpret this alignment as an indication that a crypto is in a positive trend. What’s more, the gap between the two lines has started to grow in the last couple of hours, which could suggest that LTC’s bullish momentum is picking up steam.
As Litecoin tries to break above another resistance level, the blockbuster presale for Best Wallet (BEST) is fast-approaching the $10 million milestone. This strong ICO performance comes amid a series of bullish predictions by leading experts. Among them is popular YouTuber Crypto Gains, who told his more than 141K subscribers that BEST could soar 10X after its launch.
A Crypto Wallet Packed With All Of The Features Investors Need
Best Wallet is a crypto wallet solution that stands out from the rest due to all of the features it offers users. From an in-app staking solution and a seamless swap offering, to the Best Card and native token launchpad, the wallet gives crypto investors all of the tools they need to store, secure and grow their digital asset holdings all from one application.
One notification can be the difference between catching the move or missing out. ⚔️
Turn notifications on to stay ahead of the game with real-time alerts on token claims, market moves, and new drops.
No more checking charts 24/7—let Best Wallet keep you updated. 🤝
— Best Wallet (@BestWalletHQ) February 5, 2025
The project also comes with support for over 60 blockchains and all of their native tokens and coins. Users can also import all of their wallets from across the Web3 ecosystem, making it much easier for investors to manage their portfolios.
Perhaps the best feature offered within the app is the “Upcoming Tokens” section, which flags emerging, high-potential crypto projects. Catslap (SLAP) and Pepe Unchained (PEPU) have already been flagged by this feature, and have both gone on to deliver impressive gains for investors who bought in when Best Wallet first identified the meme coins.
By simply holding the project’s native BEST token, Best Wallet users also unlock access to higher staking rewards, lower transaction fees, early access to new projects, as well as the ability to participate in the project’s governance.
Investors Bet Big On BEST’s Future
Investors have already poured more than $9.5 million into Best Wallet’s ongoing presale. This buying frenzy is likely to continue given the 176% APY on offer to anyone who stakes BEST at this early stage.
To participate in the presale, investors can acquire BEST through the widget embedded on the project’s website using either crypto or bank card.
Buy BEST here before a presale price hike in 43 hours.
Related Articles:
Best Wallet – Manage Your Crypto
- Access DeFi and Web3 Dapps Across Multiple Chains
- Comes With Your Own OpenAI Powered Chat Bot Assistant
- Get Early Access to Upcoming Token Launches & ICOs
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