With rising bullish sentiments in the past 24 hours, the price of Litecoin (LTC) has taken an upward trend. This positive trend is due to the review of the Litecoin spot ETF application by the U.S. Securities and Exchange Commission (SEC). Currently, the price of Litecoin is above the $100 support level, sparking speculations about its long-term growth potential. The question arises whether the approval of this ETF can push the Litecoin price to $50,000 or not. Some analysts believe that if the Litecoin spot ETF is approved, Litecoin could experience significant growth and reach a five-digit price. They consider Litecoin’s chart structure one of the strongest in the market and predict that an ETF launch could act as a major catalyst in achieving this goal. According to forecasts, Litecoin’s long-term price trend will be similar to past bullish cycles. If the approval of the ETF leads to increased institutional acceptance, more liquidity is likely to enter the market, driving the price higher. However, regulatory challenges still exist, and the SEC has only approved a limited number of ETFs. While the approval of a Bitcoin ETF indicates regulatory policy changes, final decisions are awaited. Currently, Litecoin is priced at around $102.77, showing a 2.5% increase from the previous day. Technical analysis indicates that Litecoin faces resistance around $120. Additionally, the Relative Strength Index (RSI) stands at 38, indicating a weakness in the bullish momentum. In such conditions, if Litecoin surpasses $120, it could potentially reach $150, but if bearish sentiments continue, there is a possibility of price reduction and a drop below $100. Although the approval of a Litecoin ETF can increase institutional acceptance and demand, regulatory barriers still exist. The $50,000 price, even with positive market sentiments, seems like an ambitious goal. On the momentary price page of digital currencies, you can view the prices of all tokens and cryptocurrencies live and in real-time.
