Will Litecoin Price Hit $100 as ETF Hopes and Bitcoin Surge Fuels Momentum?

As Bitcoin crosses the $67,000 mark, Litecoin’s value is gaining momentum amid the broader market restoration. The latest transfer by the Canary Capital, which filed an S-1 type for a Litecoin ETF with the US Securities and Alternate Fee, provides impetus to bullish sentiments and will increase the probabilities of a breakout rally.

Will Litecoin cross the psychological barrier of $100 if the Litecoin ETF is authorized? Let’s discover out now in Coinpedia’s Litecoin value evaluation.

Litecoin Value Evaluation

Within the each day chart, Litecoin value motion predicts a bearish wedge breakout rally, which is gaining energy and persevering with a bullish development. The uptrend is at a crossroads and is dealing with a convergence of resistance. It contains the 38.20% Fibonacci stage, the overhead resistance trendline, and the 200 EMA dynamic resistance.

Trading view

The bull cycle throughout the ascending channel sample was pushed by the bull run in Bitcoin and the Litecoin ETF information. The bull run prompted the worth to rise virtually 10% inside two days, creating two consecutive bullish candles.

Presently, the Litecoin value is buying and selling at $70.50 and displaying an overhead rejection, teasing a possible reversal throughout the channel.

Technical indicators:

MACD indicator: Whereas the LTC is making a small comeback, the MACD indicator is displaying a bullish crossover, fueled by the re-emerging constructive histograms.

EMA: The potential of a gold crossover will enhance considerably if Litecoin provides a bullish breakout from the rising channel.

The technical indicators due to this fact strengthen the bullish development.

Will Litecoin Costs Cross $80?

The continuation of the uptrend will rely solely on the power of the Litecoin value to shut above the Fibonacci stage of 38.20%. Within the occasion of a bullish breakout, LTC value might attain main resistance on the Fibonacci stage of 61.80%, round $85.

Optimistically, if the Litecoin ETF is authorized by the SEC, the sentimental increase might set off a breakout rally to the psychological $100 stage. However, the essential help for the LTC value is current at USD 60 and USD 56.

Are you curious to see how excessive Litecoin will go in 2024 as Bitcoin targets $100,000? Try Coinpedia’s Litecoin (LTC) value prediction to search out value targets above $100.