- Litecoin breaks long-term resistance as ETF speculation builds, with analysts eyeing $255 and even $500 in the near term.
- A breakout above $225 could push LTC to $434 short term, while long-term projections point to a potential $1,450 by 2028.
- SEC decision on the Canary ETF filing could be pivotal, as rising investor sentiment and technical strength fuel bullish momentum.
Litecoin is gaining serious momentum ahead of the SEC’s expected decision on the Canary Funds ETF filing, due May 5. While the SEC has already delayed several filings, this particular application remains untouched—fueling speculation. Bloomberg analyst James Seyffart believes Litecoin has a rare shot at early approval.
This optimism aligns with LTC’s technical breakout above its multi-year resistance line. Moreover, traders anticipate a potential run toward $255 and possibly $500 in the coming months. With price action heating up, all eyes are on the SEC as the crypto community braces for a pivotal week.
Strong Technical Setup Aligns With ETF Buzz
Besides the ETF speculation, Litecoin is also flashing bullish signals on a long-term timeframe. It broke through a descending resistance line that has capped rallies since its 2017 peak. That same breakout zone hovered around the $85–$65 range, also labeled the “Best Accumulation Zone” by analyst Crypto Patel. This zone has served as a reliable support floor for months.
Source: Crypto Patel
Moreover, trading volume has climbed, with current prices holding steady above $86.29. Patel highlights a key resistance level near $225. A decisive break above it could unlock Litecoin’s short-term target of $434. This would mark a 663% rise from current levels. Furthermore, long-term projections aim as high as $1,450 by 2028, suggesting over 2,400% potential upside.
Investor Sentiment Builds Despite Regulatory Overhang
Additionally, the ETF buzz is not unfounded. The SEC has previously acknowledged Litecoin’s futures correlation with its spot price. This mirrors the framework used to approve Bitcoin and Ethereum ETFs. Hence, many believe Litecoin fits the same mold for approval.
However, continued regulatory delays risk eroding investor confidence. The market already responded positively after the ETF filing, pushing LTC up by 15%. Consequently, any SEC hesitation could stall further momentum.
Still, retail investors and crypto analysts remain bullish. They see regulatory approval as inevitable and view current prices as a rare opportunity. Furthermore, CryptoPatel—who first entered at $50—sees even $500 as a realistic near-term goal.
