🚀 Litecoin’s Price Takes Off: Is the Canary Finally Free? 🐦

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In a move that could only be described as ‘suddenly remembering it exists,’ Litecoin (LTC), the crypto project that’s been around since 2011 and is often seen as Bitcoin‘s quirky cousin, decided to jump 11% in the past 24 hours. It hit a daily high at $131.67 before coming back down to reality at $127.19. It’s like it saw a resistance wall between $130-$135 and thought, ‘Nah, I’m good.’ Despite this, LTC is still a shadow of its former self, down 69.21% from its all-time high of $412, which feels like it was in the Pleistocene era.

What’s the deal with this sudden surge? Well, the United States Securities and Exchange Commission (SEC) did a thing. They acknowledged a 19b-4 filing for a spot Litecoin exchange-traded fund (ETF) from Canary Capital. The SEC is now asking for comments, which is like throwing a party and inviting everyone to tell you how to decorate.

While the SEC is pondering over the 19b-4 filing, they’ve got 21 days to review the comments. Bloomberg’s Senior ETF analyst, Eric Balchunas, said this is the first altcoin filing to get this far, which is like saying your goldfish finally learned to climb the stairs.

LTC: The Bullish Bandwagon

On social media platform X (formerly known as Twitter), everyone’s suddenly a Litecoin expert. One user pointed out the 400% increase in the network’s hash rate, which is like saying your local library now has four times more books on dinosaurs. Another user predicted LTC will hit $2,000 by the end of the bull cycle, which is a bold claim, but hey, so is time travel.

Crypto analyst “Trade Pro” showed off LTC’s trend of “three-wave corrections,” which sounds like a dance move at a cryptocurrency disco. The chart below shows LTC has been doing this dance since last year, and it’s quite the show.

Source: Trade Pro

“Trade Pro” is so bullish on LTC that he’s predicting prices that sound like they’re from a sci-fi auction. Meanwhile, the daily chart from TradingView shows LTC is 10.22% up, like it just won a crypto sprint.

Source: TradingView

The RSI is at 59.29, teetering on the edge of the overbought zone like a cat on a hot tin roof. If LTC can keep its cool above $120, it might just keep dancing around the $130–$135 resistance. But if it gets rejected, it’s back to the $116 EMA zone to sulk.

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2025-01-30 13:54