Litecoin (LTC) recently closed above its resistance level at 96.30 USD, indicating an ongoing bullish trend. Currently trading around 98 USD, growing investor confidence is evident as large wallets accumulate tokens.
According to Santiment data, large wallet holders have increased their LTC reserves significantly, accumulating 360,000 tokens while smaller holders have liquidated 140,000 tokens. This divergence suggests a shift in market confidence.
The Open Interest for LTC has risen by 9.52%, reaching approximately 746.84 million USD, which indicates increased new investments. With positive funding rates historically linked to price hikes, the target of 107.50 USD appears attainable.
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