Why A Litecoin ETF Could Drive Price To $800
Crypto analyst Excavo mentions potential litecoin etfs And how they inspire a huge price increase in LTC. Analysts also reveal how much LTC can gather at the end of the bull cycle due to these ETFs.
How Litecoin ETFs Raise LTC Price to $800
exist TradingView PostsExcavo highlights that the Litecoin ETF is one of the factors that could raise the LTC price to $800 at the end of the cycle. He pointed out that Litecoin is just a fork of Bitcoin, and there is not much technology in it. However, he added that decentralization and adoption issues are taking place to make LTC suitable for A Potential ETFs.
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Analysts point out that these Litecoin ETFs are one of the bullish fundamentals that could send LTC to this target. Grayscale. Canary Capital and Coinshares are both suitable for SEC to provide Litecoin ETFs. according to Bloomberg Analyst Eric Balchunas and James Seyffart, the SEC approved 90% of the opportunity this year.
So if approved this year, these litecoin etfs As Excavo predicts, the LTC price can be easily sent to $800. At the same time, from a technical analysis perspective, analysts also pointed out that cryptocurrencies have standard triangles and horizontal resistance at the top. He added that this resistance often bursts strongly. Therefore, analysts are confident that LTC can reach $800 in the cycle due to its bullish fundamentals and technology.
Excavo also mentioned the LTC/BTC pair and pointed out that the fall has stopped and the bottom has been minimized. In line with this, he pointed out that he hopes there will be enough progress soon.
LTC will hit $180 in the near term
In X post, crypto analyst Dom believes Litecoin Price Head to $180. This is what he explains why he doesn’t believe LTC stands out in this cycle. Analysts suggest historical patterns, asserting that Litecoin’s charts are not like a top level. He added that the top is always put in very quickly.
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Dom also pointed out that Litecoin’s price is optimistic, higher than its all-time high (ATH) Volume Weighted Average Price (VWAP). However, he added that total invalidity would be less than $103 for acceptance.
Meanwhile, crypto analyst Crypto Bullet stressed that “LTC will fly soon.” The chart he accompanied shows that when such parabolic meetings occur, the price of Litecoin could reach $210. Crypto Analyst Charting Guy is also bullish on Litecoin, describing it as XRP 2.0, indicating that it can make a comeback like last year’s XRP.
At the time of writing, the Litecoin price is trading at about $123, down nearly 1% in the past 24 hours. data From CoinMarketCap.
Featured images from Istock, charts from TradingView.com
