Litecoin Surges by 7% : Technical Analysis
The Litecoin (LTC) suddenly gained momentum on May 1, 2025, rising by over 7% in a single day. This bullish momentum follows insights from Bloomberg analysts, who now estimate a 90% chance of the U.S. Securities and Exchange Commission (SEC) approving a Litecoin ETF by October 2nd.
Technical analysis of Litecoin indeed reveals a favourable setup, with a strong support around $84 and a breakthrough of the key level at $86. LTC recorded an impressive volatility range of 7.51% yesterday, closing just below the resistance at $87.25.
However, it was rejected from the liquidity zone at $90 and will need to stay above its support at $73 in case of a retracement.
A downside retracement is more likely as a trendline (purple line) lies below $82. Trendlines are often areas where traders place their buy orders, with many stop losses positioned below. The smart money may drive LTC below this level to liquidate stops and potentially accumulate at lower prices.
If the price continues to drop below $73, then LTC is expected to seek a double bottom or the demand zone between $60 and $54. In essence, two bearish scenarios are available for the token.
However, if the price continues to rise, the next resistances are at $95 and $108.
Experts anticipate a further increase towards $95.50, possibly beyond, if the psychological support at $87 holds. A clear break above $95.50 could pave the way for a broader rally towards $100.
ETF Litecoin Approval, a Major Catalyst
The market’s excitement around Litecoin is primarily due to the prospects of SEC approval for a spot ETF. According to Bloomberg analyst Eric Balchunas, the likelihood of regulatory approval by October 2nd has now reached 90%.
Such a decision would pave the way for regulated exposure of Litecoin to institutional investors, similar to what happened with Bitcoin ETFs. It would legitimize its status as a major crypto asset, especially in Europe where Bitcoin ETFs are starting to emerge.
Litecoin (LTC), often referred to as “digital silver” compared to Bitcoin’s gold, attracts crypto market investors. With the imminent approval of a LTC spot ETF, its adoption and value could skyrocket, presenting an ideal investment opportunity.
Buying Litecoin (LTC) on Bitget is simple, fast, and secure. Follow these steps to invest in the token:
- Create a Bitget account: Sign up on Bitget.com by providing your email and a secure password. Verify your identity with KYC to activate all features.
- Fund your account: Deposit funds in fiat (via credit card, Apple Pay, Google Pay, or SEPA transfer) or in cryptocurrencies like BTC or USDT.
- Access the spot market: Visit the “Buy Cryptos” or “Spot Trading” section, then look for the LTC/USDT pair.
- Place a buy order: Enter the desired LTC amount, check the price, and confirm the purchase. Your tokens will be credited instantly to your Bitget wallet.
