Litecoin (LTC) saw a 7.5% surge in the past 24 hours, reaching $70.50 on Oct. 16 due to excitement over Canary Capital's spot Litecoin ETF filing. The asset manager aims to launch an ETF mirroring the CoinDesk Litecoin Price Index, potentially boosting institutional interest in LTC. Analysts predict a bullish trend for Litecoin, citing a potential breakout from an ascending channel and a target range of $200-$300. The market's positive funding rates and increased open interest in Litecoin futures signal optimism among traders. However, technical indicators suggest a resistance level around $84 for October, with a breakout above this level potentially pushing LTC towards $80. This news should not be taken as investment advice, and readers are advised to conduct their own research before making any financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news