LTC Advances Towards $200, As ETF Approval Chances Increase

Litecoin is in the news again. Experts judge that the coin is about to gain traction soon again. The Canary-based ETF for Litecoin appeared on the Depository Trust & Clearing Corporation (DTCC). The same enthusiasm and bullish trends were visible when the BTC ETF was accepted.  

As history repeats itself there are chances that Litecojn’s price will grow as well. RSI analysis shows that LTC’s price will grow in the future. At the same time, the investors think that a price rally may take the price up to $200 or beyond that.  

There have been frequent controversies regarding Litecoin before. The coin is susceptible to easy double-spending attacks. Besides, the block time is also faster.  

Hence a lot of users saw a security risk and retracted from Litecoin. But the same crypto has started getting attention and inquiries in the last 2 days.  

ETF Approval Around the Corner?  

Litecoin ETF appeared finally on the DTCC platform. The banner of LCC flashes on the ETF. This is a real ray of hope for traders who assume that the approval for this ETF may come in any time now.  

Bloomsberg’s ETF analysis expert tweeted that “Don’t think it’s ready or you can start trading in the coin, now.” However, analysts confirm that the issuing body is officially making preparations now!  

Last week, Saturday, popular analyst Balchumas tweeted that there are “90% odds of LTC’s ETF approval to come by February.” Finally, the same seems to be happening!  

Nate Geraci’s Comment 

Geraci, the ETF Store President stated today that LTC ETF listing on DTCC brings back memories of BTC’s incorporation into the DTCC. He also added that brokerages might be able to access the LTC ETF soon.  

Coinshares, another trading platform, added a proposal to list the ETF on Nasdaq. As for writing this article, the SEC is reviewing it. Once approved, the ETF body will streamline LTC trade in a regulated environment. The best part- traders will be safe. They won’t have to invest a single coin. Yet, they will reap the profits equally.  

A long-Term Price Rally projected? 

In Feb, LTC has exceptionally performed. The altcoin market is booming with praise for LTC. The first part of the month, from 2nd to 19th Feb, there has been a 46% surge in LTC’s market cap. The current ca is $10.2 billion.  

Will Price Break the Latest Resistance Level?  

Projections suggest LTC can easily break from its current resistance point of $130. Hence it will be more lucrative for investors soon. A further breakout can help LTC reach a bullish value of $200.