- Litecoin’s (LTC) bullish wave is expected to deliver over 100% growth in the coming weeks.
- Historical trends and potential ETF developments suggest significant upside potential for Litecoin during the current bullish phase.
According to an analysis by prominent crypto analyst Alan Santana on TradingView, Litecoin (LTC) is primed for a strong bullish wave. Santana underlines that the present upswing, which started in late November and bottomed out in August 2024, is still present.
Over two weeks, this wave lately underwent a 40% decline that triggered the important 0.618 Fibonacci retracement level. Santana says this retraction indicates the corrective low is probably already set.
Short-Term Challenges, Long-Term Optimism for Litecoin
Santana further notes that although Litecoin has finished four straight green trading days, the market is short-term volatile. He lists a number of possibilities. LTC might continue rising or experience a small rise followed by another decline, maybe producing a higher low.
Alternatively, the market can trade sideways for a few days before picking back up its increasing trend. Santana says, “Litecoin is going up,” despite these unknowns, and is hopeful.
With possible price objectives in the near to mid-term, Santana’s chart analysis shows LTC may see a significant increase in the next several weeks. Historical patterns among long-term Litecoin holders support the analyst’s optimistic view; these tendencies, according to CNF, are presently playing out and suggesting a possible spike.
Reflecting a 5.57% increase over the last 24 hours, LTC is swapped hands at about $111.78 as of writing. Its market cap has risen above $8 billion, thanks in large part to this pricing behavior. Especially, CNF highlights increasing enthusiasm about a possible Litecoin ETF, which would improve investor sentiment even more.
Given fewer regulatory challenges, industry sources predict that the approval of Litecoin and Hedera ETFs might happen sooner than those for Solana and XRP.
Still unsure, though, is the market demand for Litecoin and Hedera ETFs. XRP and Solana ETFs have had several filings; interest in Litecoin and Hedera ETFs seems to be low.
Still, the excitement around these events has already begun to influence market sentiment, and Litecoin, aiming at a probable $200 milestone in its current bullish wave, is helping to shape sentiment.
Santana comes to the conclusion that the period of time for Litecoin’s next notable increase is rather variable, spanning 3 to 33 days.
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