While the crypto money market was having a moving days, the famous crypto analyst Kaleo, Litecoin (LTC) found a striking estimate. Kaleo says Litecoin’s current price movement is similar to the model in the 2021 bull market. If this model repeats, Analyst said that Litecoin can reach new summits, especially the probability of approval of ETF will have a major impact on the price.
Litecoin’s ETF hope and potential rise
According to Kaleo’s analysis, Litecoin is on the verge of a major rise movement. Analyst thinks that this rise will be the main catalyst of Litecoin’s ETF (stock market investment fund) approval. According to Bloomberg’s ETF analyst James Seyffart, Litecoin’s chance of ETF approval is 90 %. This development can allow LTC to test price levels of $ 1,000 or more.
Litecoin’s technical graph supports this rise. Kaleo says Litecoin has broken long -term resistance levels and that this movement can start a rally similar to the price explosion in 2021. If ETF approval occurs, Litecoin seems to be able to rise to $ 1,200. LTC, which is currently traded at $ 119, continues to attract the attention of investors. In the crypto market, especially such legal developments can cause major price movements.
SEC’s approach to Litecoin and legal advantages
Litecoin has a significant advantage compared to other Altcoins: SEC (US Securities and Stock Exchange Commission) has never defined Litecoin as a securities. This means that Litecoin is less sensitive to regulatory risks. James Seyffart says that this advantage will facilitate Litecoin’s ETF approval.
Litecoin, which has a legally cleaner history, began to attract the attention of major investors. ETF approval may trigger large capital flow and fold the value of LTC in a short time. If Kaleo’s prediction is correct, Litecoin may offer great opportunities for investors in the coming months. In the crypto market, with the acceleration of regulatory developments and the introduction of large institutional funds into the sector, Litecoin will not be surprised to see new summits. In this process, investors should closely follow market dynamics and act strategically.
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