ETF buzz overshadows global tariff uncertainty, but market watchers are still sounding the alarm on Litecoin’s next move.
Canary Capital’s recent Litecoin ETF pitch of the S-1 filing to the The Securities and Exchange Commission (SEC) has planted a seed of optimism among market watchers, but Litecoin (LTC) hasn’t picked up any bullish impulse on the news.
On the contrary, market connoisseurs are painting a dim picture for the OG altcoin if LTC’s price doesn’t manage to keep up with the critical resistance. For Ali Martinez, this price ceiling arrives in the $132 – $135 price range, meaning that a downturn to $50 is plausible if LTC’s market correction conquers this barrier.
No ‘Uptober’ Yet? LTC May Be Late To The Party..
Right now, this looks pretty much the case, as the #22 seated altcoin is trading at $116.82 with a slight uptick of 0.80% over the past 24 hours. Notably, most major-caps are witnessing 2-3% downswings on Wednesday amid global financial uncertainty, but LTC defies this bearish trend so far.
This is boosted with a trading volume that’s majorly picked up from last week, while Litecoin’s Proof Of Work (PoW) blockchain is celebrating its 14th birthday. The very first block on Litecoin (LTC) was minted on October 7, 2011, signifying the glamorous inception of Bitcoin’s (BTC) lighter counterpart.
With $611 million in trading volume on Spot markets, LTC, once deemed the silver to Bitcoin’s gold, still has a chance at restoring the early 2025 bull race levels, which ultimately can lead to price discovery. However, LTC massively trails Bitcoin (BTC) in the ‘Uptober’ festivities, deemed historically bullish for crypto.
Most importantly, Litecoin’s ETF decision could drag on to 2026 due to the United States (USA) government shutdown still going on. On the other hand, Bloomberg’s ETF expert-given 95% chances of an eventual approval add an extra layer of confidence for Litecoin (LTC) to spearhead to unprecedented price levels.
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