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.
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.
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.
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.
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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