Canary Capital's Litecoin ETF application awaits SEC approval
Bloomberg analyst James Seyffart thinks Litecoin ETF will pass.
Canary Capital's spot LTC ETF was approved by the SEC faster than XRP and DOGE.
Canary Capital's spot LTC ETF proposal will be decided by the SEC on Monday.
The uptrend cools after April's rebound, keeping Litecoin above the 4-hour chart's 100- and 200-EMAs.
After April's comeback, Litecoin (LTC) is up marginally at $86 during Monday's Asian session as the crypto market consolidates.
Seyffart said that Canary Capital's Litecoin ETF application awaits SEC approval on Monday. Canary Capital's LTC ETF was not delayed by the SEC's judgment on Dogecoin and XRP ETF registrations.
SEC S-1 registration statement for Canary Capital's Litecoin ETF proposal was submitted on October 15, 2024. Nasdaq filed a 19b-4 on January 16, 2025, to accelerate the regulatory examination after this first submission.
Litecoin ETF proposals from Grayscale and CoinShares are also being considered. The SEC must rule on three Litecoin proposals before October. Bloomberg experts revealed their latest approval chances last Monday, with Litecoin leading with 90%.
A break over the 50 EMA and rising trendline resistance would allow additional advances above $100, the psychological barrier. However, traders may expect preliminary delays in the $88-$90 supply zone.
US President Donald Trump pushed Fed Chair Jerome Powell to lower rates. Sticky inflation and US-China trade concerns might complicate things for the Fed.
Powell said in April that โwe may ourselves in the challenging scenario in which our dual-mandate goals are in tension.โ The central bank must balance low inflation and unemployment, which frequently conflict.
Consider Litecoin's bullish potential toward $100 before investing. Risk-on traders would purchase above the 50-day EMA and climbing trendline, expecting price rises.
After the 100 and 200 EMA confluence support at $84, LTC might anchor around $81 and $75.
#LTC #MarketPullback #LTC๐ #SaylorBTCPurchase $LTC
