Litecoin$LTC , launched in 2011

(LTC) managed to maintain a key support level amid an increase in whale activity.

Litecoin, one of the oldest altcoins in the crypto market, has gained 2.9% since the beginning of the year. Whales are reportedly accumulating LTC, which has been performing poorly.

According to analysis, LTC, which is struggling to maintain the $67 support level, may experience price movement in the near future.

Litecoin data is remarkable
Litecoin (LTC) is testing a critical support level at $67. Despite increasing network activity, only 28% of LTC holders remain profitable.

According to a report by AMBCrypto, a negative picture could emerge if the LTC price loses the $67 support. Data suggests that more selling pressure could be seen in the popular altcoin. Santiment data suggests that large investors are preparing for a potential price reversal; whales are trying to establish more dominance in LTC.

Commenting on the whale activity, the analysis said: “This accumulation is an indication that whales believe LTC may have bottomed or presents a potential buying opportunity.”

The number of active addresses on Litecoin increased by 2% in the last 24 hours, indicating an improvement in user activity. The analysis evaluated the increase in the number of addresses as "the beginning of the demand process." Expecting a stable recovery in the LTC price, AMBCrypto also drew attention to the profitability of wallet owners.

The fact that 28% of wallets holding LTC are profitable is interpreted as a potential reversal signal. This data reveals that the vast majority of investors are purchasing LTC at higher prices.