Litecoin Price Surges to $92 as Whales Accumulate Over $100 Million
Litecoin price reached $92, an increase of 8% in 48 hours, marking its first breach of the $90 level since mid-June. This rise is attributed to renewed whale accumulation and overall altcoin strength.
- Whale activity increased, with large transactions exceeding $100,000 rebounding from $93.7 million on June 29 to $100.47 million on July 2.
- This uptick provides liquidity and signals confidence in price appreciation among large holders.
- A Golden Cross pattern has formed as the 50-day moving average crossed above the 200-day moving average, indicating potential for a bull cycle.
- Support is forming near $87, while a failure to maintain this level could see prices retest $84.
- The Relative Strength Index (RSI) is below 60, suggesting further upside potential before entering overbought territory.
- If momentum persists above $90, a retest of the psychological $100 resistance is anticipated.
