Litecoin price prediction – Is there a road to $140 after Coinshares and Grayscale’s filing?
The post Litecoin price prediction – Is there a road to $140 after Coinshares and Grayscale’s filing? appeared on BitcoinEthereumNews.com.
Litecoin ETF filings may boost institutional interest, potentially driving the price beyond its resistance at $130 Declining transactions and address activity highlighted consolidation, while ETF approval could reignite bullish momentum Grayscale Investments and Coinshares have filed applications with the U.S Securities and Exchange Commission (SEC) to launch Litecoin ETFs. According to Nate Geraci, President of the ETF Store, Grayscale submitted a 19b-4 form to list its Grayscale Litecoin Trust as an ETF. Additionally, Coinshares filed an S-1 form to propose its Litecoin ETF offering. These applications follow a previous submission by Canary Capital, making Grayscale and Coinshares the second and third asset managers to seek approval for a Litecoin ETF. This marks a continuation of greater interest in crypto-related ETFs, with optimism growing under the current SEC administration for potential approvals. Litecoin’s price and market activity Litecoin (LTC) was trading at $122.05 at press time, following a 4.47% price hike in the last 24 hours. This, despite losing 2.63% of its value over the past week. With a circulating supply of 75 million LTC, Litecoin’s market capitalization stood at approximately $9.22 billion. On the 4-hour chart, Litecoin’s price seemed to be consolidating within the Bollinger Bands, with immediate resistance at $130 and near-term support at $117.11. The lower band at $111.25 represented a critical downside level in case of bearish activity. Source: TradingView On the chart, the MACD indicator flashed a bullish crossover, with the MACD line crossing above the Signal line. This hinted at increasing bullish momentum, though diminishing histogram sizes highlighted the need for stronger buying pressure to push the price higher. Correlation between transactions and price movements Data from IntoTheBlock revealed a strong relationship between large transactions and price movements. In fact, large transactions peaked at 4.93k on 18 January 2025, corresponding to the price trading near…
Filed under: News - @ January 25, 2025 1:28 pm