news 
Litecoin Surges Past $118 – What’s Driving LTC Ahead?
Litecoin has made a stunning comeback, breaking above the critical resistance level of $118. The cryptocurrency surged by 16.1% in just eleven hours, decoupling from broader altcoin trends. This sudden surge in Litecoin’s value is attributed to growing institutional interest and significant whale accumulation.
The market capitalization of Litecoin has witnessed an astonishing increase of 16.1%, which indicates a renewed sense of confidence among investors. The cryptocurrency’s technical structure, supported by substantial whale accumulation and increasing institutional interest, presents a compelling case for continued momentum. However, traders must keep an eye on ETF developments to identify potential catalysts.
The recent surge in Litecoin’s value is attributed to the accumulation of 250,000 coins by addresses holding over 10,000 Litecoin, which mirrors the behavior seen in early December. These whales have been buying aggressively, with total holdings reaching a staggering 48.89 million Litecoin coins. This concentrated buying pressure from these large holders has historically preceded significant price movements.
Furthermore, the recent increase in derivatives Open Interest has reached an astonishing $474 million across exchanges, indicating heightened trading activity and institutional confidence. The pattern suggests sophisticated investors are building positions, potentially anticipating positive developments around the ETF filing.
Litecoin’s immediate challenge lies at the psychological barrier of $120, with the recent whale accumulation providing strong support at $115.11.
Source: ambcrypto.com
