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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Dec 09, 2024 06:02 UTC
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Crypto Tokens to Watch This Week: Ethereum (ETH) and Litecoin (LTC) – Here’s Why
The total altcoin market cap has surged over 80% in the last five weeks, reaching $1.57 trillion.
Ethereum, the leading altcoin, has rallied over 60% in the past five weeks, breaking out of a multi-year downtrend.
Litecoin, another prominent altcoin, has shown strong bullish signals, with its price breaking above key resistance levels and its RSI indicating strong momentum.
As Bitcoin’s (BTC) price registered a weekly close above $100,000 for the first time since its inception, the altcoin industry is gradually gaining bullish momentum. The total altcoin market cap has rallied more than 80 percent in the last five weeks to hover about $1.57 trillion on Monday, December 9, during the earlier Asian session.
The spot Ether ETF issuers led by BlackRock’s ETHA registered the highest cash inflows since its inception of more than $836 million. As a result, more altcoins have already signaled an imminent bullish breakout toward price discovery in the near term.
It’s Ethereum’s Time to Shine Now
Ethereum (ETH), the leading altcoin with over $78 billion in total value locked (TVL) and a $106 billion stablecoin market cap, has surged 60% in the last five weeks. The rally has brought ETH to a crucial resistance level near $4,000.
From a technical perspective, Ethereum has broken out of a multi-year downward trend, suggesting a new upward channel is forming. Market analysts are comparing its current trajectory to the 2017 bull run, which was heavily influenced by whale traders.
- Also Read :
- Top Altcoins to Watch for a 100% Rally Next Week: Curve DAO, Hedera, and JasmyCoin Set for Massive Gains
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Litecoin’s Bull Run Gathers Momentum
Litecoin (LTC), a veteran cryptocurrency powered by a Proof-of-Work consensus mechanism, is also showing strong signs of a rally. With over 7.8 million on-chain holders, Litecoin has consistently closed above the $111 resistance level for the past two weeks.
The cryptocurrency, boasting a fully diluted valuation of about $11 billion and daily trading volumes exceeding $1 billion, has seen its weekly Relative Strength Index (RSI) rise above 70%—a level last reached in May 2021. This signals that bulls are firmly in control.
Litecoin’s momentum is further backed by six years of horizontal price consolidation, two halvings, and growing institutional adoption, all of which have laid the groundwork for its current bullish trend.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Institutional interest, technical breakthroughs, and rising investor confidence indicate the market could be on the verge of explosive growth. The crypto world seems unstoppable in its climb.
FAQs
Ethereum has rallied over 60% in five weeks and is retesting key resistance levels, signaling the potential for a new all-time high soon.
Litecoin’s bull run is fueled by strong technical indicators, including a high Relative Strength Index (RSI), bullish sentiment, and institutional adoption.
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