Sign Up on MEXC
Highlights
- Litecoin (LTC) has defied broader crypto market trends while outperforming BTC and ETH last month.
- Growing optimism around a potential Litecoin ETF approval has boosted market sentiment.
- Key resistance at $130 could determine the next leg of the uptrend for LTC price.
- CoinCodex forecasts predicting a climb to $200 or even $224 by April.
With the broader crypto market recovery, the Litecoin (LTC) price has bounced back 11.2% today, surging to $127 levels as the blockchain address activity touches new highs. While top altcoins like Ethereum (ETH) experienced a brutal 31% correction in February, LTC staged a strong show, ending 1% on the green side. Market analysts believe that LTC can continue the rally further and surge past $200 levels by April.
Will Litecoin Outperform Bitcoin in March?
February 2025 turned out to be among the worst-performing months for Bitcoin (BTC) with a 17.3% correction, while Litecoin ended up 1% in the green. According to analytics platform Santiment, LTC price has risen 25% against BTC during the month, a notable divergence in a bearish crypto market.
Amid the strong performance, Santiment also highlights a recent spike in LTC addresses and an overly bullish commentary for the altcoin in the last 24 hours. Analysts caution that these factors may signal a minor price retracement in the short term.
Litecoin ETF Demand Grows
The surge in the network activity has been largely due to the growing optimism surrounding the approval of Litecoin ETF by the US SEC this year. Bloomberg has pegged the odds of such an approval to 90%, much higher than XRP ETF or Solana ETF.
The potential approval of an LTC ETF reflects a growing trend in the cryptocurrency market. The success of spot Bitcoin and Ethereum ETFs, which have seen significant net inflows since their 2024 launches, has opened the door for additional crypto-focused investment products.
While an ETF may not command the same level of demand as its Bitcoin and Ethereum counterparts, analysts believe that even moderate inflows could make it appealing.
Will LTC Price Rally to $200?
As of press time, the LTC price is trading 11% up at $127.70, however, the bulls still need to push it past the crucial resistance of $130 and sustain above it to trigger the next leg of the rally. As per the Coinglass data, the LTC open interest has surged 8.68% to $645 million. Also, the 24-hour liquidations have soared to $2.25 million of which $1.90 million is in short liquidations.
Market analysts have mixed opinions, especially with Litecoin price’s recent surge despite the broader market crash. Some believe that the current bounce in LTC price is the outcome of short liquidations instead of fundamental shifts in market conditions. On the other hand, CoinCodex data shows that Litecoin can rally all the way to $224 by April 2025.
Tight liquidity conditions have been the major reason behind recent crypto market pullbacks and will continue to influence Bitcoin and altcoin movements ahead. Apart from the current surge, there has to be a strong catalyst that can drive the LTC rally ahead.
- Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill
- Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops
- Solana Treasury Company SOL Strategies Gets Approval To List On Nasdaq
- Fidelity, Grayscale, VanEck Dump Ethereum Amid ETH Price Crash
- Ethereum Treasury Firm SharpLink Confirms Compliance Amid Nasdaq Oversight
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
- ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?
