Big News for Litecoin (LTC) as LTC Prices Surged by 19% to Hit $133 in the Last 24 Hours, and Technicals Are Currently Hinting at a Possible Rally Towards $200

The crypto market reacted positively to the SEC's acknowledgment of Canary Capital's 19b-4 filing for a Litecoin ETF.

Cryptocurrency prices reacted positively on Thursday after the Securities and Exchange Commission (SEC) acknowledged Canary Capital’s 19b-4 filing for a Litecoin (LTC) exchange-traded fund (ETF) application. The development comes amidst the appointment of a crypto-friendly acting chairman for the SEC, which has sparked massive volatility for the oldest altcoin and reinitiated the discussion around its potential to break above the $200 price level.

At press time, the LTC price rallied over 18% in the past 24 hours and is now testing a crucial resistance level at $130, from where it bounced in the days following Trump’s inauguration. Meanwhile, the “silver to Bitcoin’s gold” also saw an explosive surge in daily trading volume, which rose by over 180% to reach $1.54 billion, according to data from CoinMarketCap.

Several other fundamentals could also be attributed to LTC’s price surge today. The first is the silent removal of references to the SEC vs. Ripple case on the SEC website, which traders interpreted as a bullish sign for altcoins with ETF prospects.

It could also be attributed to the bottled-up Litecoin buying pressure throughout January 2025, which is evident from the fact that over 122,000 new Litecoin addresses were added to the blockchain network during this period.

LTC Price May Rally To $200 As Technicals Hint At A Bullish Breakout From a critical technical standpoint, the Litecoin price forecast leans bullish, and these factors only serve to fuel the speculation that may eventually spark a breakout towards $200.

Before Thursday’s breakout, the LTCUSDT had formed a symmetrical triangle pattern that often precedes a breakout in either direction. Today’s price action has confirmed a bullish momentum as the altcoin tore above the critical resistance level of $130.

The upward price action is further reinforced by the MACD, which is trending upwards, signaling a steady growth of the bullish momentum. Should Litecoin bulls maintain this trend and break above the next resistance level of $140, they may aim for a 3-year high above $200.