Litecoin Rally Brewing? Big Wallets Load Up as LTC Technicals Flip Bullish - Crypto News Flash

• Whales grabbed 360,000 LTC while smaller holders sold off, signaling a shift in conviction.
• Open Interest jumped over 8% with funding rate favoring longs, pointing to a strong bullish bias.

Litecoin (LTC) has climbed to $98.21 as of Thursday, marking its fifth consecutive day of gains. The price moved past the $96.30 weekly resistance level on Wednesday and held that level the following day.

Technical signals remain positive, with many watching the $107.05 area as the next level of interest.

Major holders appear to be becoming more optimistic. Between June 5th and July 11th, wallets holding 1 million to 10 million LTC added 360,000 tokens to their holdings, according to Santiment. Meanwhile, wallets holding 100,000 to 1 million LTC reduced their holdings by 140,000 tokens, possibly reacting to broader market uncertainty.

This behavior change suggests that larger players intervened during a dip in the market. That buying activity may have contributed to the recent steady price action and ongoing upward trend.

Source: Santiment## Derivatives Spike as Bulls Show Strength

Activity in the Litecoin derivatives market suggests growing confidence. According to CoinGlass data as of Thursday, the Open Interest in LTC increased by 8.63% over 24 hours, reaching $745.88 million. A rise in Open Interest usually indicates fresh capital entering the market, suggesting that traders expect further price increases.

Another relevant metric is the OI-Weighted Funding Rate, which climbed to 0.0228%. This shows that long positions are paying short positions—a setup that, in past instances, has often been followed by strong upward price action in Litecoin.

Source: CoinglassTechnical signals back this trend. The Relative Strength Index is sitting at 68, suggesting strong upward momentum without being in overbought territory. The MACD also remains positive after a bullish crossover at the end of June, while green bars on the histogram above the zero line suggest that bullish momentum is gaining.

Traders Target $500 LTC This Cycle, Says Analyst

Litecoin’s near-term technicals point toward a test of the May 10 peak at $107.05 if the current momentum continues. Support remains firm around $91.78, which matches the 200-day EMA and the 50% Fibonacci retracement drawn from the May peak to the June low.

A drop below the $96.30 level, however, could lead to a retest of the $91 zone.

Source: TradingViewIn the broader outlook, some traders are betting on much bigger gains. On July 16, crypto analyst Crypto Patel posted that Litecoin may reach resistance around $120 to $140 in the current cycle

He added that aggressive targets could extend up to $200, $300, $400, and even $500. He said:

1K Still in Play, But $500 This Bull Run? Absolutely,

If Litecoin maintains its current pace and holds above support levels, this accumulation and derivatives activity could continue to push it toward higher targets.

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