Litecoin’s double bottom breakout – 24% gain ahead if LTC breaches…

Key Points

1. Litecoin is testing a critical resistance zone between $107 and $110, where over 3.9 million LTC were previously held.

2. A double bottom formation suggests a potential trend reversal, with a breakout above $110 possibly targeting $130 (a 24% gain).

3. Whale holdings have increased by 5.44% in the past 30 days, indicating accumulation for a potential breakout.

4. Derivatives market shows strong bullish sentiment, with OI-Weighted Funding Rate hitting a record high of 0.0416%, though this also raises downside risks.

5. Litecoin recorded $3.55 million in outflows, suggesting long-term holder conviction and lack of panic selling.