Litecoin's (CRYPTO:LTC) recent price recovery has brought hope for investors, with potential gains on the horizon as LTC approaches a key resistance level.
Despite this, LTC holders are showing strong conviction by holding onto their assets rather than selling for profits, which could support further price appreciation.
Analysis indicates that a significant amount of LTC, valued at over $1 billion, purchased between $81.51 and $87.50, is close to becoming profitable if LTC's price surpasses certain thresholds.
Investors anticipate that maintaining their positions could lead to a breakthrough beyond $87, potentially pushing LTC closer to the $100 mark, but failure to breach crucial support levels may result in a correction to lower price levels.