Litecoin Price News: LTC Confirmed Breakout Could Anticipate Much Bigger Move to $130

Litecoin (LTC) has gone up by 9.4% in the past 24 hours and currently sits at $119.30 and has been rallying for six days in a row even though most cryptos are dropping.

Trading volumes more than doubled the 14-day moving average on Sunday as the price broke through a key area of resistance at $116.

This counter-intuitive surge follows a statement from the Litecoin Foundation on August 2 where they indicated that the network has been experiencing a remarkable surge in its daily transaction volumes.

Litecoin Foundation Official X Account – Source: X.com

According to the Foundation, Litecoin has processed 12% of its lifetime transactions in 2025. What is a bit confusing is who is using Litecoin and for what. This network is supposedly used as a cheaper and more scalable alternative to send digital payments compared to Bitcoin.

However, its native DeFi ecosystem is virtually nonexistent. Data from DeFi Llama shows that the network’s total value locked (TVL) is just $3 million.

Why Is Litecoin (LTC) Rising?

Litecoin is a Bitcoin hard fork that promises the same level of security as the top crypto but with a much more scalable architecture that can support faster and cheaper digital remittances. Nonetheless, LTC is not a stablecoin – which is usually the preferred asset for sending payments in the crypto world.

What seems to be fueling most of this hype is the possibility that an exchange-traded fund (ETF) linked to Litecoin (LTC) could be approved soon. Earlier this year, the Commodity Futures Trading Commission (CFTC) classified LTC as a commodity in a lawsuit against the crypto exchange KuCoin.

Paired with a change in the current administration’s stance on cryptos and a leadership transition at the Securities and Exchange Commission (SEC), Litecoin investors expect that the token’s adoption will rise as it makes its way to the traditional financial markets.

Three companies have applied for an LTC-linked spot ETF at the time – Grayscale, CoinShares, and Canary Capital.

In the absence of a clear competitive edge to other cryptocurrencies, Litecoin’s rally seems to be driven by short-term hype and as a result of volatile price movements, as the latter may have busted short-sellers.

LTC Could Take a Breather After Hitting $122

After rallying in 10 out of the past 12 days, LTC could be ready to take a breather. The most likely price level that will trigger such a decline is the $121 – $122 area as the token has retreated sharply after hitting this level multiple times in the past.

LTC/USD 4-Hour Chart (Coinbase) – Source: TradingView

Such a retrace could eye the $115 level as a potential landing zone. At that point, late buyers may enter upon securing a much more attractive entry price. The near-term target if the price bounces off this level would be the $130 area, meaning a 13% upside potential.

The Relative Strength Index (RSI) just entered overbought territory. This favors a short-term pullback but is also indicative that the price is experiencing a strong wave of positive momentum. Hence, a dip should be treated as a buying opportunity at first and not as a trend reversal unless otherwise confirmed.