Litecoin Faces Resistance Amid Whale Sell-Off, Potential for New High

Litecoin has surged by 14%, trading at $116 amidst the altcoin rally. Nevertheless, significant whale activity threatens its stability as major holders offloaded 500,000 coins worth $58 million, potentially undermining the bullish trend. On-chain data indicate that long-term holders remain resilient and confident in Litecoin's prospects, providing support to stabilize the current price levels. At $116, Litecoin is nearing resistance at $117. A strong bullish push is necessary to break through this barrier and sustain the upward trend. If selling pressure persists, the price might fall to $105, but ongoing buyer support could help surpass $117 and reach a new four-month high of $124.