Litecoin (LTC) Surges Nearly 15% Amid ETF Filing and Strong Volume: Price Levels to Watch!

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On October 15, 2024, Canary Capital filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) to create a Litecoin Exchange-Traded Fund (ETF). This ETF would hold actual Litecoin and track its price, making it easier for both retail and institutional investors to access LTC without having to buy and store the cryptocurrency themselves

LTCUSD was one of the top performers in the past two days and surged nearly 15% with a good uptick in volumes. It hit a high of $73.01 and is currently trading around $70.95.

In the 4-hour chart, the pair is holding above short-term (34 and 55-day EMA) and long-term 200 EMA ($65.80).

The bearish invalidation can happen if the pair closes above $85. On the lower side, the near-term support is $60. Any close below targets $50/$47/$40.

The immediate resistance stands at around $77. Any breach above confirms a minor pullback. A jump to $85/$98/$112/$134 is possible. A surge past $115 (the previous year's high) will take Litecoin to $153.

It is good to buy on dips around  $66 with SL around $50 for TP of $98.