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Litecoin price prediction: LTC has been on a bullish trajectory in recent weeks, demonstrating a significant upward movement on the trading charts. The cryptocurrency has consistently traded above the $100 mark, symbolizing a strong market presence. Despite a recent minor pullback in its value, <a href="https://coingape.com/price/litecoin/" rel="noopener noreferrer nofollow">Litecoin’s price </a>stands at $102, marking a 2% decrease over the last 24 hours.
<h2 id="strong-litecoin-price-prediction-anticipating-movements-beyond-the-110-mark-strong">Litecoin Price Prediction: Anticipating Movements Beyond the $110 Mark</h2>
The day commenced with Litecoin riding a bullish wave, momentarily reaching a high of $110, which currently serves as a pivotal resistance level. However, it faced a notable retraction, with the price descending to a support level of $102. These fluctuations are indicative of a volatile trading session, highlighting a blend of investor optimism and caution.
Litecoin has solidified its position as a key player within the cryptocurrency realm, ranking 20th on <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/litecoin/">CoinMarketCap</a>. It boasts a market capitalization of $7.59 billion. Interestingly, there has been a 28% decrease in the 24 hour trading volume, now standing at $1.09 billion. This decrease suggests a significant level of investor engagement and interest in Litecoin.
<figure id="attachment_188893" aria-describedby="caption-attachment-188893" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-188893" src="https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_17-49-45-e1711820114865.png" alt="Litecoin Price Prediction: Will LTC Hit $150 Following CFTC's Commodity Classification?" width="1200" height="514">
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 Litecoin Price Prediction
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Over the past week, Litecoin has been on a modest upward trend, with its price oscillating between $86 and $100, following an initial surge from the $80 range to above $100. This upward movement has culminated in a weekly increase of over 17%. On a monthly basis, the cryptocurrency has witnessed a growth exceeding 23%.
<h2 id="strong-regulatory-tailwinds-boost-litecoin-s-market-position-strong">Regulatory Tailwinds Boost Litecoin’s Market Position</h2>
<a href="https://coingape.com/trending/litecoin-price-litecoin-surged-a-year-high-with-109-whats-happening/" rel="noopener noreferrer nofollow">Litecoin’</a>s recent gains can be attributed to the Commodities Futures Trading Commission (CFTC) classifying it as a commodity. This designation, made during a lawsuit against the KuCoin exchange, is a positive development for Litecoin, hinting at reduced regulatory scrutiny from the Securities and Exchange Commission (SEC).
The CFTC’s stance on Litecoin as a commodity emerges while the SEC remains non-committal on the legal standing of Ethereum, the second-largest cryptocurrency, further spotlighting Litecoin’s regulatory advantage.
<h2 id="strong-market-dynamics-and-future-outlook-for-ltc-strong">Market Dynamics and Future Outlook for LTC</h2>
If <a href="https://coingape.com/markets/litecoin-price-prediction-breaks-two-years-accumulation-to-chase-150/" rel="noopener noreferrer nofollow">LTC</a> manages to breach the $110 resistance level, it could trigger a new wave of bullish momentum, potentially elevating the cryptocurrency toward $120 or $150.&nbsp;
Conversely, increasing bearish pressure could reverse the trend, pushing Litecoin back to the $100 support level or even lower to $90, hinting at a bearish phase.
<figure id="attachment_188894" aria-describedby="caption-attachment-188894" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-188894" src="https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_20-30-20.png" alt="Litecoin Price Prediction: Will LTC Hit $150 Following CFTC's Commodity Classification?" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_20-30-20.png 1154w, https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_20-30-20-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_20-30-20-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/03/LTCUSD_2024-03-30_20-30-20-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-188894" class="wp-caption-text">
 Litecoin Price Prediction| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/fL9TNBln/">Tradingview</a>
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The market’s technical indicators paint a positive picture, with the Chaikin Money Flow index reflecting bullish sentiment. The crossing of the 20 Exponential Moving Average over the 50-EMA supports the potential for upward movement. Moreover, the 24-hour Relative Strength Index (RSI) stands at 61.17, indicating a neutral market sentiment.
The post <a href="https://coingape.com/markets/litecoin-price-prediction-will-ltc-hit-150-following-cftcs-commodity-classification/" rel="noopener noreferrer nofollow">Litecoin Price Prediction: Will LTC Hit $150 Following CFTC’s Commodity Classification?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Litecoin Price Prediction: Will LTC Hit $150 Following CFTC’s Commodity Classification?

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