Litecoin’s 3-Year Price Stagnation Nears Breakout as LTC ETF Hype Intensifies

Litecoin's price has been stuck in a rut for three long years—but Wall Street's sudden ETF fever might finally shake it loose.

The Sleeping Giant Awakens

While Bitcoin ETFs stole the spotlight, Litecoin's quietly been building pressure like a coiled spring. Now, with institutional money sniffing around, LTC's consolidation could snap violently.

ETF Mania Goes Altcoin

Traders are piling into LTC futures as whispers of a spot ETF grow louder. Because nothing revives a dormant asset like the prospect of bloated Wall Street fees wrapped in a 'innovation' label.

Watch the $200 level: Break it, and Litecoin could retest its glory days. Fail, and it's back to being crypto's forgotten silver to Bitcoin's gold.

LTC ETF approval odds jump to 80%

Litecoin price ROSE on Monday as investors remained optimistic that the Securities and Exchange Commission will approve LTC funds by Grayscale, CoinShares, and Canary Capital. 

Polymarket data shows that the odds of the agency approving these funds have risen to 80%. The SEC has set deadlines of October 2 for Canary’s ETF application, and October 10 and 23 for the Grayscale and CoinShares funds, respectively.

Expectations are based on the agency’s prior approval of spot Bitcoin (BTC) ETFs, which have attracted over $55 billion in inflows. Litecoin is similar to Bitcoin in that it is a proof-of-work coin with a supply cap of 84 million. Bitcoin has a cap of 21 million coins.

Litecoin is also highly decentralized and liquid, with daily trading volume rising to over $1 billion on some days.

There are also signs that an LTC ETF WOULD attract institutional capital. For example, the Grayscale Litecoin Trust, which charges an annual fee of 2.50%, has already attracted over $246 million in assets. 

Recent data shows that demand for altcoin ETFs is still vibrant. ethereum (ETH) have had a cumulative inflow of over $10 billion, while popular XRP and Solana funds like XXRP, UXRP, and SSK have had millions of dollars in inflows.

Litecoin price technical analysis

The daily timeframe shows that LTC has been in a three-year consolidation phase. It has remained within the resistance level at $140 and the support level at $41 since June 2022.

This prolonged consolidation mirrors that of XRP, which remained inside a narrow range for years before its recent breakout.

Litecoin price has moved above the 50-week and 100-week moving averages. It is also nearing the 23.6% Fibonacci retracement level at $130, while the Relative Strength Index has jumped above the neutral point at 50.

Therefore, the token could continue rising as bulls target the upper side of the channel. A break above that resistance would point to further gains to $227.80, up by 92% from the current level. A drop below the support at $93 would invalidate the bullish forecast.