The on-chain trend of Litecoin (LTC) stands strong, with miners and whales continuing their monstrous accumulation spree. Over the past week, miners have added an extra 100,000 coins to their reserves, and a strategic cohort of whales have added 890,000 coins worth around $82 million. This buying frenzy can potentially trigger a bullish trend in the near term that may take the blockchain's native token a few steps closer to crossing the key psychological $100 mark.

On-chain data from IntoTheBlock demonstrates that the bulls have a maximum of 34,000 coins to climb over at the $96 resistance area. If these are crossed, the next notable resistance lies around the $110 mark, where 898,000 addresses currently hold 4.6 million coins. Conversely, if the current support area is not held around $88, LTC may drop below the $80 support area and 6.59 million coins held by 450,000 addresses could be in for a hit.

Altogether, if the buying momentum among miners and whales relentlessly persists, the Litecoin network may have a golden gateway waiting for it to make it to a new bull run.

The investment world's attention is on Litecoin, where the battle of bulls and bears will determine if its native cryptocurrency can demonstrate its strength and cross the $100 mark. Only time will tell.



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