Litecoin (LTC) rose by more than 11% in the last 24 hours and angled over $ 123, marking one of the sharpest large CAP events this week as dealers rotated to older Altcoins in the middle of improving mood and fresh ETF chatter.
The move that made LTC as the biggest weekly winner among the top hundred tokens comes as a mixture of structural adoption and regulatory wind.
In July, Litecoin accounted for 14.5% of all crypto payments on Coingate, the company said in an X post, jumped off stablecoins such as USDT and USDC and only other for Bitcoin (BTC).
As such, speculation continues about a spot ETF of building despite the fact that SEC is postponing its decision on Grayscale’s application until October.
Bloomberg analysts tied the odds of possible approval to 90% in early July with reference to LTC’s raw material classification of CFTC – a distinction that reduces legal risk and places it together with Bitcoin and Ether (ETH) in regulatory clarity.
Elsewhere, Mei Pharma revealed a $ 100 million Litecoin allocation last month, repeating the early Bitcoin Treasury movements and giving LTC a new angle as a low beta treasury. While the purchase has not moved the markets materially, the optics help.
Meanwhile, Coindesk Analytics data shows that LTC broke over the 7-day simple sliding average and is facing an important rotary level of $ 117.61. Relative strength index (RSI) sits on 69.5 – elevated, but not yet signaling of exhaustion. However, the early MacD Divergence suggests that momentum may be cooling if influx does not maintain.
Dealers are looking at $ 124- $ 131 as a resistance zone, per. Analysis, and a dense above can signal a structural outbreak.
