- Bloomberg analyst James Seyffart says Litecoin’s ETF has a stronger chance of SEC approval, with a decision expected soon.
- LTC price holds above key technical levels, signaling a potential breakout toward $100.
Litecoin (LTC) could be the next cryptocurrency to benefit from the exchange-traded fund (ETF) boom, with Bloomberg analyst James Seyffart suggesting its chances of approval are stronger than its altcoin rivals. As of Monday’s Asian session, Litecoin traded at $86, showing modest gains while holding firm above key technical indicators.
Canary Capital’s proposal for a spot Litecoin ETF is at the heart of this optimism. Unlike filings for XRP and Dogecoin—which have faced delays from the U.S. Securities and Exchange Commission (SEC)—the SEC has yet to push back on the LTC application. The regulator is expected to issue a decision on Canary Capital’s ETF as early as Monday.
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This regulatory momentum, paired with Litecoin’s resilient price action, has analysts bullish. Seyffart highlights that while delays are still possible, Litecoin is currently the strongest ETF contender. Bloomberg’s latest approval odds peg LTC’s chances at a commanding 90%, ahead of other proposals from Grayscale and CoinShares, which are also awaiting SEC verdicts due by October.
The bullish sentiment isn’t limited to regulatory news. On the technical side, Litecoin has maintained support above the 100- and 200-period Exponential Moving Averages (EMAs) on the 4-hour chart. If the price breaks above the 50 EMA and ascending trendline resistance, it could pave the way to the $100 psychological level. That said, the $88 to $90 range may present short-term resistance.
Adding to the mix is market-wide anticipation of the U.S. Federal Reserve’s next move on interest rates. With President Donald Trump pressing for rate cuts amid inflationary pressures and geopolitical tensions, broader economic sentiment may also sway crypto trends.
For now, Litecoin’s fundamentals and technicals suggest a potential breakout. Traders are advised to monitor for confirmation above key resistance levels, while keeping an eye on both ETF decisions and macroeconomic cues that could drive market momentum further.
