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Litecoin: Rebound Amid Market Neutrality and Whale Activity

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by Giorgi Kostiuk

a day ago


Litecoin (LTC) investors are at a critical juncture as the cryptocurrency's price rebounded 2% over 24 hours amid market shifts.

Spot Market Neutrality and Whale Activity

Recent data shows spot traders have halted active buying and selling, signaling exhaustion. Meanwhile, whale activity has surged. Whales now hold $8.24 billion in LTC, with trading volumes reflecting both buying and selling. The Bull Bear Indicator shows equilibrium with 28 bulls and 28 bears.

Derivatives Reflect Bullish Bias

Derivative markets hint at optimism. The funding rate remains positive at 0.0063%, favoring buyers. Open Interest increased by 8.66% to $10.8 million, indicating sustained interest in long positions.

Technical Analysis and Future Outlook

ETHNews analysis points to $99.46 as a key hurdle. If sustained above this level, LTC could rally toward the channel's upper limit of $135. Recovery at $99.46 would signal that recent dips were temporary, but strong momentum is required to avoid a pullback.

Litecoin's future hinges on maintaining gains above $99.46. Success here could catalyze a sustained upward trend, aligning with technical patterns and derivative market signals.

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