Litecoin Jumps 12% to $127 on ETF Hopes and Payment Surge
Litecoin jumped 12% in 24 hours to $127, extending a 47% monthly rally as broader crypto markets recovered. Optimism over a spot Litecoin ETF approval—rated 95% likely for 2025 by Bloomberg and 81% by Polymarket—coupled with record payment adoption (14.5% share on CoinGate) and MEI Pharma’s $100 million treasury allocation underpins bullish sentiment. On-chain metrics highlight network resilience with 340 million transactions processed and 12% occurring this year. Technically, LTC broke above a symmetrical weekly triangle and trades in an ascending channel above its 20- and 50-day EMAs, supported by a bullish MACD crossover, RSI at 64 and upper Bollinger Band. Key resistance levels lie at $140 and a potential $200 supply wall, while support zones cluster around $110–$101. Traders should watch ETF approval developments and payment usage as catalysts for further Litecoin gains and crypto payments growth.
Bullish
The outlook for Litecoin is bullish. In the short term, strong price momentum driven by ETF approval optimism and a technical breakout above a symmetrical triangle, supported by bullish MACD and RSI signals, suggests further upside toward $140 and beyond, while key supports around $110–$101 limit downside risk. Over the long term, growing payment adoption, institutional allocations like MEI Pharma’s $100 million treasury purchase, and high on-chain transaction volumes underpin sustained demand and market stability. As ETF approval odds rise, Litecoin stands poised for continued gains.