Litecoin (LTC) has again drawn attention, and for good reason. Two major development at the same time: a confirmed breakout from a multi-year dowrend and a possible decision in an ETF area.
According to well -known analyst Crypto Patel, LTC prices have only been damaged in a major resistance line that has held it since the last big rally. This setup It looks like one has led to the past all time high. At the same time, Bloomberg's ETF analyst James Seyffart said the SEC is expected to call today, May 5, in the Litecoin ETF application of Canary Capital.
This makes it interesting because, unlike most other filing, this one is not delayed in advance. Some people wonder if the SEC can surprise the market with a decision. Seyffart still thinks that a delay is more likely, but the timing has sparked speculation.
Litecoin price of multi-year resistance line breaks confirmed
The chart review posted by Crypto Patel describes a breakout above a downward trend trapped in Litecoin price action since 2017. This trend has fought in many rallies, including those in 2019 and 2021. Patel marked the $ 65- $ 85 zone as the optimal area of the gather -bounce from this range across many cycles.
The breakout pattern is supported by a long -term triangle formation completed recently. Historical data shows a similar setup that occurred in the 2015–2017 cycle when Litecoin advanced more than 4,000% after breaking a comparable trend structure.
LTC price targets reflect historical projections
Based on this breakout, Patel has set a short -term price target in the range of $ 255 to $ 500. These levels correspond to previous resistance zones and psychological thresholds. A longer projection of $ 1,000 to $ 1,458 is structured, referring to earlier behavior in the Litecoin market and the gained percentage achieved at previous bull cycles.
Patel emphasized that while the top range may be out of reach, the breakout structure supports further upside down if the market momentum continues. The review maintains that a return to previous highs is possible if the current support levels are holding.
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In addition, the Cryptopotato tweet at X noted that Bloomberg's analyst James Seyffart confirmed that the SEC was expected to address the Litecoin ETF's Litecoin Capital proposal on May 5. This decision has gained attention because it does not face an early delay, unlike other files. Although Seyffart believes the delay is still likely, the absence of a preemptive response motivates the speculation about an unexpected approval.
🚨 Bloomberg's @Jseyff reported that the SEC should rule over Canary Capital's #Litecoin $ LTC ETF Today – May 5.
Unlike other filing, this one is not delayed in advance, raising the imagination of a surprise approval.
Seyffart still expects a delay – but stay focused. pic.twitter.com/qbjljf0mup
– Official Cryptopotato (@crypto_potato) May 5, 2025
The timing of this ETF review aligns with the ongoing breakout on the Litecoin chart, which brings further attention to the owner. If the decision arrives at a time of growing technical strength, it can influence short -term price direction and general sentiment in the market.
The Litecoin market structure, and momentum focused
Entrepreneurs and analysts continue to monitor the LTC's response to these development. The price structure on the monthly chart shows a departure from a multi-year accumulation range, which is often seen as a move toward a more bullish environment.
Like writing, Litecoin trades above $ 88, combining its position following the breakout. Market participants watch both ETF continuity patterns and technical patterns in Check possible next moves in Litecoin price action.
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