LiteCoin (LTC) showed strong growth last week. The cryptocurrency topped $112 over the weekend, the highest level since April 2022.
LTC has risen more than 22% in the past seven days. However, already on Sunday, the altcoin was in a correction phase.
The whales started selling litecoin, which triggered its pullback.
On Tuesday, July 4, the LTC exchange rate fell to $107. A report from Santiment said that big investors began dumping the cryptocurrency a few days ago.
Wallets controlling between 10,000 LTC and 1 million LTC participated in the realization. Some small Lightcoin holders controlling up to 1,000 LTC also dumped some of their accumulated coins.
Pressure has risen sharply, but Santiment thinks support around $100 should work. The RSI Relative Strength Index shows that lightcoin is still in an overbought zone. The correction may continue in the coming days.
Lightcoin has risen to ninth place in the ranking of digital currencies. Its capitalization is now just over $7.857 billion.
LTC had a trading volume of about $462 million per day at the end of June, but at the beginning of this month it exceeded $1 billion. Lightcoin’s closest competitor is Solana. SOL’s capitalization fell to $7.684 billion today.