Litecoin is demonstrating significant growth, showing an 11% increase in the last 24 hours, coinciding with news of ETF filings.
Litecoin's Rise Amid ETF Filing News
CoinShares has recently filed for an ETF including Ripple and Litecoin. This could be influencing the current rise in Litecoin's price. Major investors like Canary Capital and Grayscale have shown interest, filing their ETF applications in January 2025.
Analyst's Take on Litecoin's Future
Analyst XForceGlobal shared a chart employing the Elliott Wave theory to showcase Litecoin's price movements. The chart illustrates a prolonged waiting period, possibly leading to a significant price surge. The analyst predicts that Litecoin may achieve considerable heights, akin to XRP, in the coming months.
Key Takeaways and Forecasts for Litecoin
If the current momentum continues, Litecoin might test resistance levels between $140 and $200 in the forthcoming months. Recent ETF filings and increasing institutional interest could serve as crucial catalysts for further growth.
Litecoin has become a focal point due to ETF filings and analyst predictions of a potential substantial price increase. The coming weeks are crucial for tracking this cryptocurrency.
