Litecoin price experienced a significant increase on October 15th after news of Canary Capital’s Spotlightcoin ETF filing shocked the crypto industry. LTC price exploded with a huge 8% candlestick on the 30-minute time frame and is still trending up.
Litecoin enthusiasts have become saturated with X and used the opportunity to boast about their early predictions that a Litecoin ETF will be born in 2024. The previous highest price for LTC was $410 in May 2021 during the bull market. With ETFs as a backdrop, how high can the 2025 bull market go?
Litecoin price if LTC ETF is approved
LTC price has increased by 6.7% in the past 24 hours and is trading at $71.65. The rest of the cryptocurrency market is up 0.2%, likely due to Bitcoin’s sharp rally late yesterday, topping the $67,000 level before falling back. BTC price is currently hovering around $66,986.
The impact that a Spot Bitcoin ETF has on the price of the underlying asset is clear. BTC price increased by 47%. Moving the price of an asset with a market capitalization of $1 trillion is extremely difficult due to the sheer size of the market, and requires a large amount of buy or sell pressure to have a noticeable impact on the price. Therefore, the fact that the ETF was able to achieve such gains is commendable.
Litecoin, on the other hand, is much smaller. Immediately after the ETF’s launch, BTC rose 57% to a price of $73,000. Assuming that Litecoin captures only 30% of BTC’s performance, we can estimate a similar impact on LTC. Litecoin’s market capitalization is currently $5.383 billion.
According to data from CoinGecko, Bitcoin’s market capitalization is 240 times that of Litecoin. A 57% rise in the $1.2 trillion BTC market equates to a 13,680% rise in a much smaller market cap of just $5.3 billion. If LTC only captures 30% of its 13,680% upside potential, the price of Litecoin would rise 41x from its current price of approximately $2,913 with a market cap of $218 billion.
LTC Price Analysis: Aiming for $2,900 to $1,500
Litecoin’s price chart shows a long-term upward channel from 2017 to the present and beyond, with predictions that it could target around $1,100 by 2026.
LTC is trading near the lower limit of this channel at around $71.75, suggesting it is in a support zone. Historically, this region has been a good accumulation area with subsequent price increases. The center of the channel (~$400) and the upper limit of $1,100 serve as medium- to long-term resistance zones.
This chart predicts a 1,495% increase if Litecoin price reaches the channel high of around $1,100 by 2026. This is a major long-term objective and is consistent with historical price movements.
Litecoin price analysis chart
Prices are at a crucial support level. If LTC sustains above $70, there is a possibility of a short-term rally towards $100-$120 towards the center of the channel. However, if Litecoin fails to sustain above $60-$70, it could fall and turn bearish, invalidating the current bullish theory.
Litecoin could soar to new ATH
If the Litecoin ETF is approved, LTC could see a significant price increase similar to Bitcoin’s post-ETF surge. If Litecoin achieves just 30% of Bitcoin’s ETF-driven performance, its price could reach up to $2,900 and its market cap could reach $218 billion. However, for this bullish outlook to hold, LTC will have to break above a key support level around $60-$70. The long-term forecast target for LTC price remains optimistic, with milestones potentially reaching $400, $1,100, and even higher, depending on market conditions and investor sentiment.
Frequently asked questions (FAQ)
The recent surge in Litecoin prices was driven by the news that Canary Capital filed for a Spot Litecoin ETF, with LTC up 8% on a 30-minute candlestick.
If the Litecoin ETF is approved, it could result in significant price increases similar to the impact of the Spot Bitcoin ETF. Bitcoin saw a 57% price increase after the ETF was approved, but even a fraction of that impact could cause the price of Litecoin, which has a smaller market cap, to rise even more.
No, the Spot Litecoin ETF by Canary Capital has not yet been approved, but its application is currently under review. Approval could be a major catalyst for LTC prices.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrencies, and the video game industry. His extensive experience includes working with a variety of startups to provide insightful, high-quality analysis that resonates with target audiences. As an avid crypto trader and investor, Evans is passionate about blockchain’s transformative potential across a variety of sectors. Outside of his professional work, he enjoys playing video games and exploring beautiful waterfalls.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
