Litecoin (LTC) has resurfaced one of the top-performing cryptocurrencies this week, jumping over 12.7% in just 24 hours to trade near $128.
The surge follows increasing speculation around a potential U.S. spot ETF approval and a dramatic rise in real-world adoption, which are now converging to position Litecoin for a major breakout.
According to Bloomberg analysts, the odds of an ETF approval for Litecoin stand at 90%, boosted by its clear commodity classification by the CFTC.
Much like Bitcoin, this regulatory clarity sets the stage for institutional inflows. Major firms, including MEI Pharma, have already made significant LTC allocations, adding to the bullish narrative.
Now trading above $126, the digital asset faces its next resistance zone at $131.18. If momentum holds, analysts believe LTC could surge toward $144.56, or even higher, with Fibonacci extensions pointing to targets near $150.
Technical indicators support this bullish outlook. The RSI remains elevated but not yet exhausted, while the MACD shows signs of sustained bullish divergence.
Notably, a daily close above $128.92 could confirm a long-term trend reversal. However, caution is advised if LTC fails to hold support above $110.70, with a fallback level at $103.80.
Nearly 40% of CoinGate’s partner vendors now retain crypto from sales, a significant increase from 27% in 2024. This growing confidence in Litecoin as both a medium of exchange and a store of value strengthens its long-term prospects.
With surging volume, a key technical breakout, and the possibility of an ETF approval in sight, Litecoin is no longer in the shadows. The convergence of institutional interest and rising adoption indicates that LTC could be positioned for a substantial rally, with the potential to attain or exceed $150 soon.
Cover image from ChatGPT, LTCUSD chart from Tradingview
