Litecoin (LTC) is grabbing attention again, and for good reason. Two big developments are coming together at the same time: a confirmed breakout from a multi-year downtrend and a possible decision on a spot ETF.
According to prominent analyst Crypto Patel, LTC’s price just broke through a major resistance line that’s held it down since its last big rally. This setup looks a lot like the one that led to its previous all-time high. At the same time, Bloomberg’s ETF analyst James Seyffart says the SEC is expected to make a call today, May 5, on Canary Capital’s Litecoin ETF application.
This makes this interesting because, unlike most other filings, this one wasn’t delayed early. Some people wonder if the SEC could surprise the market with a decision. Seyffart still thinks a delay is more likely, but the timing has sparked speculation.
What you'll learn 👉
Litecoin Price Multi-Year Resistance Line Break Confirmed
The chart analysis posted by Crypto Patel illustrates a breakout above a descending trendline that has capped Litecoin price action since 2017. This trendline has resisted multiple rallies, including those in 2019 and 2021. Patel marked the $65–$85 zone as the optimal accumulation area, noting that LTC price has consistently bounced from this support range across multiple cycles.
The breakout pattern is supported by a long-term triangle formation that was recently completed. Historical data shows a similar setup occurred in the 2015–2017 cycle when Litecoin surged over 4,000% after breaking a comparable trend structure.
LTC Price Targets Reflect Historical Projections
Based on this breakout, Patel 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-term projection of $1,000 to $1,458 has been outlined, referencing Litecoin’s prior market behavior and the percentage gains achieved in its earlier bull cycles.
Patel emphasized that while the top range may not be reached in the current cycle, the structural breakout supports further upside if market momentum continues. The analysis maintains that a return to previous highs is possible if current support levels hold.
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Furthermore, CryptoPotato’s tweet on X noted that Bloomberg analyst James Seyffart confirmed that the SEC is expected to address Canary Capital’s Litecoin ETF proposal by May 5. This decision has drawn attention because it has not faced an early delay, unlike other filings. Although Seyffart believes a delay is still likely, the absence of a preemptive response has prompted speculation about an unexpected approval.
🚨 Bloomberg’s @JSeyff reported that the SEC must rule on Canary Capital’s #Litecoin $LTC ETF today – May 5.
— CryptoPotato Official (@Crypto_Potato) May 5, 2025
Unlike other filings, this one wasn’t delayed early, raising speculation of a surprise approval.
Seyffart still expects a delay — but stay tuned. pic.twitter.com/QbjlJf0mup
The timing of this ETF review aligns with the ongoing breakout in Litecoin’s chart, bringing additional attention to the asset. If the decision arrives during a period of growing technical strength, it could influence short-term price direction and overall market sentiment.
Litecoin Market Structure, and Momentum in Focus
Traders and analysts continue monitoring LTC response to these parallel developments. The price structure on the monthly chart shows a move away from a multi-year accumulation range, often seen as a shift toward a more bullish environment.
As of writing, Litecoin is trading above $88, consolidating its position following the breakout. Market participants are watching both the ETF ruling and technical continuation patterns to assess possible next moves in Litecoin’s price action.
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