Litecoin Surges 7% as SEC Likely to Approve Spot ETF with 90% Odds: Analyst

Litecoin (LTC) price surged more than 7% on Thursday, outperforming the broader market gauge CoinDesk 20 Index, which climbed about 4%.

Bloomberg Senior ETF Analyst Eric Balchunas reports that spot Litecoin ETF approval chances have surged to 90%, with a decisive deadline of October 2nd that could dramatically broaden LTC's institutional investor base and potentially catalyze significant price appreciation.

Technical Analysis Highlights

LTC-USD exhibited significant volatility with a 7.51% range ($81.82-$88.03), establishing strong support around $84.00, according to CoinDesk Research's technical analysis data model. Price action formed an ascending channel with successful reclamation of the $86.00 level in the most recent 48 hours. Strong buying interest appeared during the recovery phase, with accumulation at key Fibonacci retracement levels. Current momentum suggests potential continuation toward $88.50 resistance, with $85.50 serving as validation support. In the last 100 minutes of trading, LTC recovered from mid-$86 range to above $87.19 after forming a higher low at $86.36. Particularly strong buying interest occurred during 14:14-14:17 UTC period when LTC reclaimed the $87.00 psychological level. The final hour showed increasing momentum with consecutive higher highs and higher lows, closing at $87.19 just below $87.25 resistance. A bullish price structure combined with declining selling pressure suggests potential continuation toward $88.00 if $87.00 in support holds.

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External References:

Cryptopolitan, Litecoin Price Prediction 2025-2031: Will LTC Recover to $200 Soon?, published April 30, 2025.Bitcoinist, Bitcoin Nears Golden Cross as MVRV Ratio Builds Momentum – Is a Breakout Coming?, published April 7, 2025.Invezz, Solana and Litecoin ETF Approval Odds Are Very High, Says Bloomberg Analyst Balchunas, published April 30, 2025.BitcoinWorld, Litecoin ETF and Solana ETF Approval Odds Skyrocket: Bloomberg Analysts Predict Astonishing 90% Chance, published April 30, 2025.Coinpedia, Litecoin, Solana, XRP Among Top Crypto ETFs Set for 2025 Approval, published April 30, 2025.