Litecoin, known for its proof-of-work protocol, has broken free from a six-year consolidation phase, sparking a bullish cycle. Analysts predict a surge towards $120 and a new all-time high for Litecoin.

Recent market movements have pushed Litecoin's price over $105, indicating a possible move to the $120 resistance level. Technical analysis reveals a bullish trend line and support at $101.50 on the LTC/USD pair's 4-hour chart.

Litecoin's price has breached the 0.5 Fibonacci retracement level, signaling further upside potential. Observers are optimistic about Litecoin's bullish sentiment, especially after breaking the macro downtrend line and closing above the 50 Moving Average on the monthly timeframe.

Analysts project a target of $134 for Litecoin in the medium term. Positive regulatory developments, such as a potential spot LTC ETF approval by the SEC, are anticipated. Despite competition from other blockchains like Solana and Cardano, Litecoin's network interest remains strong, as seen in the increasing number of addresses and ordinal counts.

In conclusion, Litecoin's bullish trajectory is supported by technical indicators and market sentiment, hinting at significant gains and a new all-time high in the future.