At the time of the publication of this article, the price of Litecoin (LTC) is negotiated at 109 dollars, 73% below its historical maximum (ATH) of $ 412, reached in May 2021.
While it is true that it is difficult for LTC to exceed that brand in the short term, the technical analysis throws positive signals for the price of the asset.
For this reason, several analysts, such as Ali Martínez and Carl Runefelt, have highlighted the Litecoin’s bullish potential.
MARTÍNEZ He thinks that If LTC keeps the support at $ 108, you will have enough impulse to search for the $ 115 or 120 area. Its projection is accompanied by a graph in which it is seen that the price of LTC recently crashed into the level of 108 dollars, after having tried without success staying above 111 dollars.
For its part, Runefelt, indicates That the digital asset “is forming this symmetrical triangle in smaller temporal frames, which could point out a potential entry point.”
It is worth clarifying that the symmetrical triangle reflects a moment of indecision in the market, where the buying and saleswoman pressure is balanced while the price is narrowed in an increasingly reduced range. Unlike other technical figures, this pattern is considered neutral and usually anticipates an abrupt movement, although without defining in advance if it will be upward or the loss.
Considering this structure, Runefelt argues that A rupture above $ 113 could start a bullish rallywhile a fall below $ 103 would be the beginning of a deep price correction.
While the technical analysis throws encouraging signals, the LTC community closely follows The possible approval of the funds quoted in the Stock Exchange (ETF) Based on this asset by the United States Stock Exchange and Securities Commission (SEC).
As cryptootics, James Seyffart and Eric Balchunas, Bloomberg Intelligence analysts, said there are a 95% probability that Litecoin receives the approval of an ETF in 2025, which could have a significant impact on its price.
The fact that LTC has an ETF increases market expectations, because this instrument would facilitate currency exposure to institutional investors, which could translate into greater liquidity for its ecosystem.
This is because, by offering exposure to the asset without acquiring it directly, ETFs eliminate barriers such as technological complexity or regulatory doubts that usually stop many participants.
In addition, The launch of an ETF would mark a step towards institutional adoptionas already happens with Bitcoin (BTC) and Ether (ETH), the native cryptocurrency of Ethereum.
Apart from the approval of the ETF, so that LTC enters an upward rally, it will be essential that they accompany the macroeconomic conditions of the market. If this does not happen, cryptocurrency could lose the level of $ 100.
