News 
February 10, 2025 
4 min. 
Litecoin (LTC) surged nearly 7% on Monday, defying broader market volatility as investor optimism grew over a potential Litecoin ETF. The token’s recent price action has been bolstered by technical indicators, growing institutional interest, and increased exchange support. Analysts now predict a potential run toward $128, reinforcing bullish sentiment around LTC’s future.
Analysts Predict Breakout Amid Bullish Momentum
Renowned crypto analyst Carl Moon recently pointed out that Litecoin has bounced off its key support level at $96 and is currently trading within an ascending triangle pattern. According to Moon, a breakout above this formation could propel LTC toward the $128 mark in the near term. As of the latest trading session, LTC hovered around $113.65, marking a strong recovery from its daily low of $102.
Adding to the bullish outlook, another market expert, XForceGlobal, compared Litecoin’s current trajectory to that of XRP, noting that the only missing factor was liquidity. The analyst suggested that if an LTC-backed ETF is approved, it could trigger a significant price rally, similar to what happened with other institutional-grade crypto assets.
ETF Hype and Derivatives Market Fuel Optimism
The price increase took place alongside the growing sparkle of expectation about the advent of a Litecoin ETF. The United States Securities and Exchange Commission started collecting public comments regarding Grayscale’s proposition that they should be allowed to transform their Litecoin Trust into an ETP. Coinshares has also submitted an S1 filing for a similar move which indicates that more institutions are showing interest to the asset.
At the same time, Binance has furthered its support of LTC by deploying new Spot Grid and Spot DCA trading services to the LTC/USDC pair. This implementation will serve to further enhance the liquidity as well as the accessibility of the asset to traders – therefore consolidating market confidence.
The mood in the derivatives market goes beyond neutral. As stated by Coinglass, the Open Interest (OI) of Litecoin futures grew by 11% and amounted to $ 551.13 million. At the same time trading of derivatives increased by 169% and volumes reached $1.29 billion. This suggests that both institutional and retail investors are jumping on the bandwagon to capitalize on the anticipated rally while taking the $128 target as a safe bet for the near future.
With the growing interest from institutions, we can expect more technical bullish signals to emerge against a backdrop of an improving derivatives market and we expect some strong price momentum on LTC. With the ETF stirring up market sentiment, traders and investors alike seem to be bullish on LTC’s prospects of breaching pivotal resistance zones and making a run for higher lows.
