LTC Joins Crypto Rally as Major Cryptocurrencies Shatter Key Resistance Levels

The cryptocurrency market continues its impressive rally, with Bitcoin breaking the $120,000 barrier and Ethereum surpassing $4,000. This bullish momentum is driven by several factors, including significant ETF inflows, anticipation of Federal Reserve rate cuts, and strong technical patterns. Bitcoin reached a peak of $121,981, marking a nearly 3% gain in 24 hours, while Ethereum posted a 23% weekly gain, settling at $4,300. Other altcoins like Solana and Chainlink also showed strong performance, with Solana maintaining above $180 and Chainlink outperforming expectations. As the market heats up, Litecoin (LTC) is poised to join the rally, with analysts eyeing new highs for the cryptocurrency.

Crypto Market Extends Rally as Bitcoin Breaks $120,000

Bitcoin surged past $120,000 early Monday, buoyed by ETF inflows, Federal Reserve rate cut expectations, and a bullish technical pattern. The flagship cryptocurrency gained nearly 3% in 24 hours, peaking at $121,981.

Ethereum broke through $4,000 over the weekend, with analysts anticipating new all-time highs. ETH posted a 23% weekly gain before settling at $4,300. Solana maintained strength above $180, while chainlink outperformed with a 4% rise.

The rally showed broad participation with Hedera, Litecoin, and Polkadot posting notable gains. Only Toncoin and Stellar bucked the trend, trading in negative territory.

Market sentiment strengthened as institutional interest converged with favorable macro conditions. The advance comes amid political developments in crypto policy, including the resignation of White House digital assets advisor Bo Hines.

Litecoin (LTC) Targets Major Gains After $123 Breakout Fueled by Institutional Demand

Litecoin has surged past $123, marking a pivotal moment for the cryptocurrency often overshadowed by Bitcoin and Ethereum. Institutional interest is growing, driven by Litecoin's status as a CFTC-recognized commodity and its proven utility as a payment network. MEI Pharma's $100 million investment—acquiring 929,000 LTC at an average price of $107.58—has sparked a 40% jump in open interest, defying broader market declines.

Regulatory clarity continues to bolster Litecoin's appeal. The CFTC's classification provides a framework for institutional adoption, positioning LTC as a secure, regulation-friendly asset. Trading at $123.47, up 1.74% in 24 hours, Litecoin's breakout reflects sustained buying pressure and long-term conviction from major investors.

Litecoin (LTC) Price Pulls Back to $119 Despite Strong Institutional Support

Litecoin's price retreated to $119.28, marking a 3.28% daily decline after nearing $129 earlier this week. The pullback comes despite robust institutional interest, including MEI Pharma's $100 million treasury allocation to LTC.

Technical indicators show neutral momentum with an RSI of 59.13, while trading volume spiked 168% to $1.68 billion during recent highs. Litecoin now ranks as the second-most used cryptocurrency for payments on CoinGate, capturing 14.5% market share.

Market observers attribute the volatility to profit-taking after a 25% weekly surge fueled by spot ETF speculation. The rally triggered $3.89 million in short liquidations on August 5, demonstrating the market's sensitivity to institutional adoption narratives.