Why is Litecoin (LTC) price up today?

Litecoin has displayed significant strength against the collective bearish market, with a 10% uptick over the past day. The 15th-ranked cryptocurrency, according to market cap, is up 18.4% for the week, attempting to establish a new yearly high above $141.Another 10% increase would put Litecoin at a three-year high of $150, last witnessed in January 2022. SEC acknowledges CoinShares spot Litecoin ETFAccording to a filing released on Feb. 19, 2025, the US Securities and Exchange Commission (SEC) has acknowledged another batch of ETF filings, with CoinShares spot Litecoin and XRP ETF currently under the spotlight. The Nasdaq Stock Market LLC submitted the filings on behalf of CoinShares, with the SEC requesting public comments within 21 days of the filings.This is the third spot LTC ETF, which has received the initial nod from the SEC, following Litecoin ETF filings from Canary Capital and Grayscale. Last week, Eric Balchunas, Bloomberg’s senior ETF analyst, noted that there is a 90% likelihood of a Litecoin ETF being approved in 2025. With the review process expected to take up to 240 days, resolution is expected around September 2025. However, fellow Bloomberg ETF analyst James Seyffart believed that a spot Litecoin ETF might struggle to attract significant demand. Related: Litecoin ETF has 90% chance to get SEC approval in 2025: AnalystsLitecoin open interest reaches 4-year high with $758MAlongside the spot ETF bullish catalyst, Litecoin’s open interest (OI) spiked to $758.9 million on Feb. 19, indicating that futures traders are potentially looking at LTC as an opportunity. This is Litecoin’s highest OI value since May 2021, implying renewed interest for a rally ahead. With the altcoin on the verge of breaking its resistance at $140, a technical analyst, Dom predicted it could head as high as $180 over the next few weeks. The analyst explained that the current price action for LTC did not look “like a topping formation.” The analyst added,“Tops have always been put in quick (circles) Price is bullish above ATH VWAP, full invalidation being acceptance below ~$103.”However, recent data from IntoTheBlock implied that Litecoin traders were indulging in price fluctuation buys and sells, which has kept the price at its current consolidated stage. As observed, whenever Litcoin consolidates at around the $135 range, traders on exchanges collectively sell and then buy back around the $100 region. This might explain the large candle wick drop on Feb. 3, when LTC dropped to $80, but it immediately closed above $100, possibly due to pre-existing bids on the order book. Related: Is Bitcoin price going to crash again?This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.