Litecoin (LTC) climbed more than 2% in recent trading, buoyed by growing whale accumulation and a decisive breakout above a key resistance level. On-chain data reveals that large holders have been increasing their LTC positions, suggesting confidence in the asset’s near-term upside potential. The price surge comes as itcoin">Bitcoin and other major cryptocurrencies show renewed strength, lifting sentiment across the broader market.
The breakout above resistance is particularly encouraging for traders, as it could signal the beginning of a sustained upward trend. Analysts note that Litecoin has historically performed well during periods of increased whale activity, often preceding significant price moves. Additionally, LTC’s strong liquidity and established use case as a payments-focused cryptocurrency continue to attract both retail and institutional interest.
While the short-term outlook appears bullish, market watchers caution that macroeconomic factors and itcoin">Bitcoin’s price action could influence Litecoin’s trajectory. If the current momentum holds, LTC may target higher resistance levels, with traders eyeing the next psychological barrier around $100. As always, investors are advised to monitor volume trends and broader market conditions before making trading decisions.
