Litecoin News Today: LTC Jumps 5% on DTCC Listing as ETF Approval Odds Surge to 85%

Litecoin (LTC) jumped 5% in the day to recover much of the losses suffered in the last two days and get back above $135.

The rebound started hours after the DTCC website listed Canary Capital’s proposed Litecoin ETF.

The Depositary Trust and Clearing Corporation (DTCC) has listed Canary Capital’s proposed Litecoin ETF on its website.

The ETF now appears as “active and pre-launch” and has a Ticker LTCC on the ultra-popular platform that facilitates clearance and redemption of ETFs and shares.

The move confirms the long-held belief within the crypto community that Litecoin will most likely be the first non-BTC or ETH ETF to receive the nod from the SEC.

This sparked a lot of optimism within the crypto community.

On leading crypto betting platforms like Polymarkets, the approval odds of a Litecoin ETF have rallied, being approved by the end of the year have surged past 85%.

The market reacted positively to the news, rallying by more than 5% in the last 24 hours to an intra-day high of $139.90 from the lows of $126.31.

The positive news also sparked a lot of volatility for the altcoin shot by more than 21% to hit $1.64 Billion.

Litecoin (LTC) ETX Buzz Sparks Bullish Momentum

From the a technical perspective, the daily chart of the LTC/USDT chart, the altcoin has turned mildly bullish over the short term.

The altcoin currently trades well above the 7-day and 25-day moving averages.

The MACD indicator has been printing deep green bars – confirming the start of a bullish momentum.

The MACD blue line has already crossed the signal line from below, confirming a bullish reversal.

The current RSI of 60 also shows that LTC has since escaped the neutral zone – confirming that the digital asset is ready for a bullish reversal.