Litecoin (LTC) is currently the best-performing cryptocurrency among the top 100 projects in the weekly charts. The asset has rallied 11.9% in the daily charts, 30.4% in the weekly charts, 11.6% in the 14-day charts, and 24.8% over the previous month. LTC’s price has also risen by 79.2% since February 2024.
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ETF Application Pushing Litecoin’s Price
LTC’s latest rally comes amid high expectations for a spot ETF approval. According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, LTC has the highest chance of ETF approval. LTC is followed by Dogecoin (DOGE), Solana (SOL), and Ripple’s XRP token.
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The SEC made headlines in 2024 after it approved spot Bitcoin (BTC) ETFs in January of last year. The financial watchdog also approved Ethereum (ETH) ETFs some months later. A Litecoin (LTC) ETF could lead to a significant price spike for the token.
Will The Asset Hit $150 Next?
According to CoinCodex, LTC could rise to $148.97 on Feb 21, 2025. Hitting $148.97 from current price levels will entail a rally of about 14.78%. The platform anticipates LTC to continue rallying over the coming months. CoinCodes predicts LTC to hit $213.48 on May 8, 2025. Hitting $213.48 from current prices will translate to a rally of about 64.48%.
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There is also a possibility that Litecoin (LTC) will face a correction in the coming weeks. The larger crypto market is still struggling. Bitcoin (BTC) is trading at the $98,000 price level. Macroeconomic conditions may also lead to a market dip. The Federal Reserve is yet to announce an interest rate cut this year. If the Fed does not roll out a rate cut soon, the crypto market could suffer.
