Litecoin (LTC) Price Jumps 17% as Canary Capital Files Amended S-1 for Litecoin ETF

The Litecoin price jumped 17% in the last 24 hours to trade at $120.33 as of 02:19 a.m. EST on trading volume that skyrocketed 298% to $1.6 billion.

The Litecoin price surged 17% in the last 24 hours to trade at $120.33 as of 02:19 a.m. EST on trading volume that skyrocketed 298% to $1.6 billion.

This comes as Canary Capital submitted an amended S-1 filing for the Litecoin ETF (exchange-traded fund). The move could make Litecoin the next cryptocurrency to get the green light in the U.S for a crypto ETF, after Bitcoin and Ethereum.

The filing by Canary Capital is also seen as evidence that the SEC is considering the approval of Litecoin ETFs.

We had heard chatter that the Litecoin S-1 had gotten comments back from SEC. This looks to confirm that which bodes well for our prediction that Litecoin is most likely to be the next coin approved. All that said, new SEC chair has yet to start and that's a huge variable. https://t.co/cKFswPwcr0

— Eric Balchunas (@EricBalchunas) January 15, 2024

The LTC price chart analysis on the daily timeframe exhibits a mixed trend, with recent signs of strength following a period of consolidation. LTC has been oscillating within a descending triangle pattern since peaking in late 2024. The lower boundary of this triangle, around the $97 level, has provided strong support, while the upper descending trendline is acting as resistance, according to data from GeckoTerminal.

In recent sessions, the Litecoin price has broken above the 50-day Simple Moving Average (SMA) at $110.28, signaling potential bullish momentum. However, it remains below its local highs near $130, which is an area of significant resistance. The golden cross around $71, where the 50-day SMA crossed above the 200-day SMA in mid-November 2024, remains intact, suggesting that the long-term trend is still bullish despite the short-term consolidation.

The Relative Strength Index (RSI) currently sits at 62.05, approaching the overbought zone. This indicates that buying momentum is increasing but is not yet at extreme levels. A sustained RSI above 60 could support further upside, while a move into the overbought zone (above 70) may precede a pullback.

Meanwhile, the Moving Average Convergence Divergence (MACD) is currently bullish, with the MACD line at 1.30 crossing above the signal line at 1.04. This crossover suggests growing bullish momentum. However, the histogram shows modest strength, indicating that momentum is building but not yet overwhelming.

The break above the 50-day SMA and the bullish MACD signal suggests that the price of LTC may attempt a breakout above the descending triangle’s resistance at $125–$130 in the short term. If this breakout is successful, the next target would be the $140 psychological level.

However, failure to maintain the $110 level could see LTC retesting support at $100 or even the 200-day SMA near $80.

Meanwhile, ClayBro, a prominent crypto analyst with over 135K subscribers, says the recently launched Catslap (SLAP) could be the next 50x meme coin.

Is Catslap The Next Crypto To Explode?

Catslap is challenging existing cat-themed market leaders like POPCAT and MOG and it comes with an innovative Slap-2-Earn mechanism that is offering $100K in rewards.

The project’s viral slapping game has already recorded a massive 2.7 billion slaps on its Slapometer globally. The game’s popularity has boosted community engagement, and there are now 21,667 individuals holding SLAP tokens.

The Slap-to-Earn Slapdrop leaderboard is now live, revealing the top 10 winners of $10,000 USDT each. The transactions to distribute the $100,000 among the top 10 winners can be found in this wallet: https://etherscan.io/address/0x5D1a7B8b3Ff3f10A11eD674FE51bfbcE5e63Cea0#tokentxns

Other Slapdrop participants who completed Zealy social quests and submitted their Best Wallet rewards wallet started receiving their $SLAP token rewards from 11am today.

Just airdropped $100K to the top 10 slappers 😸

Feeling like burning $1M soon … $SLAP is king pic.twitter.com/wv3rrtZEpe

— Catslap (@CatSlapToken) January 15, 2025

SLAP’