Litecoin jumped 8% in 48 hours, reaching $92 for the first time since mid-June amid renewed whale accumulation and altcoin strength. Technical indicators show a Golden Cross formation suggesting further upside potential.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
Litecoin LTC $86.57 24h volatility: 2.9% Market cap: $6.58 B Vol. 24h: $406.28 M price rose as high as $92 on Thursday as profit-rotation towards altcoins scuttled Bitcoin’s rally towards new all time highs. On-chain data shows that LTC whales are back in action after a brief pull-back at the close of June. With technical indicators flashing a Golden cross pattern, is LTC set for another leg-up toward $100?
Litecoin price jumped 8% in 48 hours, crossing the $90 threshold for the first time since mid-June. The move comes amid altcoin strength and renewed whale accumulation, according to on-chain data.
IntoTheBlock’s Large Transactions Volume indicator, used to track whale activity by summing all transactions above $100,000, showed a sharp uptick in LTC transfers. After dipping to $93.7 million on June 29, whale trades rebounded to $100.47 million on Wednesday, July 2.
Litecoin Large Transcations | Source: IntoTheBlock
This spike is significant for two key reasons. First, the high-volume transactions provide deep liquidity, allowing short-term profit-taking without disrupting price momentum, keeping rallies sustained. Active demand from Large holders often signals confidence in price appreciation, drawing in retail investors and discouraging short-term selling.
More so, whale accumulation often precedes bullish breakout phases. Given that LTC dropped to $82 last week, the timing of this rebound suggests whales may be betting on another leg toward $100, particularly as possible approval of Litecoin ETFs continues to boost market sentiment.
A Golden Cross has now formed on the daily Litecoin chart, as the 50-day moving average (MA) crosses above the 200-day MA. This widely followed bullish signal may indicate the start of another long-term bull cycle, especially as BTC $107 660 24h volatility: 1.4% Market cap: $2.14 T Vol. 24h: $22.67 B forays towards new all time highs.
Litecoin price forecast | Source: TradingView
In LTC’s case, the cross aligns with Thursday’s surge to $92 and solid support forming near $87. More so, Litecoin’s RSI (Relative Strength Index) trending below the 60 threshold implies that there’s still room for more upside before setting off overbought triggers.
If bulls can maintain momentum above $90, a retest of the $100 psychological resistance looks likely. However, failure to hold $87 may trigger a retest of $84. But with macro tailwinds and active whale support, the bias currently leans dominantly bullish.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
