Litecoin continues to gain momentum, surpassing some competitors in market capitalization. The main attraction for market participants is the anticipated approval of an ETF.
Litecoin gains traction
Litecoin closed the week with a powerful 'dragonfly' candlestick, signaling significant price changes ahead. This secured Litecoin's position among the top 15 cryptocurrencies, surpassing HBAR, SHIB, and TON. Its market capitalization neared $10 billion, with trading volumes more than doubling.
Growing optimism around ETF
Optimism about an ETF is a key factor increasing interest in Litecoin. Analysts believe there's about a 90% chance of ETF approval for Litecoin, making it a favorite compared to peers like XRP or SOL.
Future outlook
Litecoin exhibits strength against USD and BTC, suggesting a potential breakout to a new level. Trends indicate that gains may push the price to $180-$200. If the token breaks resistances at $152, $167, and $198, further increases to $225 and potential $500 during the next bull run may be imminent.
Given the current growth and optimism in the market, Litecoin could significantly increase its value in the coming months supported by potential ETF approval and positive market trends.
