Whales accumulate Litecoin, price heading towards 107 USD

The price of Litecoin (LTC) has closed above the weekly resistance level at 96.30 USD, currently trading around 98.27 USD after 5 consecutive sessions of increase. On-chain data from Santiment shows that large wallets are actively accumulating LTC, while small wallets are withdrawing from the market. From June 5 until now, the wallet group holding 1–10 million LTC has purchased 360,000 tokens, while the wallet group holding 100,000–1 million LTC has sold 140,000 tokens.

Derivatives data from Coinglass recorded that the OI of LTC increased by 9.52% to 746.84 million USD in the past 24 hours, indicating that new capital is flowing in. The funding rate surged to 0.022%, further reinforcing the bullish trend.

Technically, LTC remains above the 200-day EMA at 91.78 USD and the 50% Fibonacci at 91.61 USD. The RSI is at 67, and the MACD maintains a bullish crossover since the end of June. If the upward momentum continues, the price could approach the old peak area of 107 USD.