[ad_1]
- Litecoin bulls made a comeback within the 0.5 and 0.618 Fibonacci range.
- On-chain data revealed that whales have been accumulating LTC.
Litecoin [LTC] is attempting another bullish recovery. This is after an overall bearish performance in December, and it could be on the verge of a significant rally courtesy of whale activity.
For context, LTC dropped from its $147 December high to a low of $86.69. This was equivalent to a 40.75% dip.
However, price has been consolidating between $96 and $105 which happened to fall within the 0.5 and 0.618 Fibonacci range on the pullback.
Source: TradingView
Litecoin had a $105.85 press time price tag at the time of writing after bouncing back into the green in the last four days. But can the Litecoin-native crypto carry the same momentum higher than its 2024 highs?
It would have to rally by over 38% to reclaim the December top.
However, that may not be far-fetched, considering renewed interest from whales.
LTC finds favor with the whales
Litecoin on-chain stats revealed that whales have been buying the recent Litecoin dip. The group held roughly 7.44 million LTC at the start of December, which was equivalent to 9.79% of the total supply.
Whale balances grew to 9.06 million LTC or 11.91% as of the 30th of December.
Source: IntoTheBlock
The investor category dipped slightly from 29.8 million LTC at the start of December to 28.31 million LTC at the end of the month.
Meanwhile, retail accumulated slightly from 38.64 million coins to 38.67 million coins during the same period.
Large holder flows concluded the year 2024 with a 65% uptick in inflows in the last seven days. Large holder inflows peaked at 435,260 LTC on the 31st of December, while outflows were notably lower at 117,340 LTC.
Source: IntoTheBlock
The large holder flows reflected the bullish outcome in the last few days, indicating that whales were at the forefront of the rally.
Strong demand could put the cryptocurrency on the path to a bullish first week of January, and it may also underscore LTC’s 2025 outlook.
Funding Rates also confirmed healthy activity in the derivatives segment. There was a notable uptick in positive LTC Funding Rates in the last three days.
Source: IntoTheBlock
Read Litecoin’s [LTC] Price Prediction 2025–2026
Volume was up by 11.40% to $596.94 million in the last 24 hours, indicating renewed interest in Litecoin. This was also backed by a 2.12% uptick in Open Interest to $439.10 million.
The recent activity around LTC reveals that it is off to a bullish start in 2025 and could potentially be ready for another sizable uptick.
[ad_2]
Source link