Flow

Litecoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/litecoin-ascends-above-100-as-market-cap-shines" rel="noopener noreferrer nofollow">Litecoin Ascends Above $100 as Market Cap Shines</a><br></p>
<p style="text-align: justify">Litecoin (<a href="https://en.bitcoinhaber.net/bitcoin-faces-stubborn-decline-while-litecoin-holders-endure-price-drop" rel="noopener noreferrer nofollow">LTC</a>) has recently marked a significant upward trajectory in the <a href="https://en.bitcoinhaber.net/greeks-live-bitcoin-and-ethereum-options-to-expire-on-december-1st" rel="noopener noreferrer nofollow">cryptocurrency</a> market, surpassing the $100 mark and exhibiting resilience by maintaining its position above this level. Despite a 2% dip in the past day, the digital currency managed to touch a high of $110, asserting its bullish trend. With its current value hovering around $102, LTC reflects strong market sentiment and potential for further gains.</p>
<h2 id="assessing-litecoin-s-market-growth">Assessing Litecoin’s Market Growth</h2>
<p style="text-align: justify">LTC stands as the 20th largest cryptocurrency in terms of market capitalization, boasting a value of $7.59 billion. Although its trading volume has seen a 28% decline to $1.09 billion recently, the persistently high volume indicates sustained interest from investors. Over the past week, LTC has enjoyed a modest climb, increasing by over 17%, and has seen a more significant 23% uplift over the past month.</p>
<p style="text-align: justify">Litecoin’s price appreciation can be attributed to its recent categorization as a commodity by the US Commodity Futures Trading Commission (CFTC) in a legal case against KuCoin. This designation potentially eases regulatory pressures from the US Securities and Exchange Commission (SEC), offering Litecoin a distinct advantage in comparison to other cryptocurrencies still navigating regulatory ambiguities.</p>
<h2 id="technical-prospects-for-litecoin-s-price">Technical Prospects for Litecoin’s Price</h2>
<p style="text-align: justify">Technical analysis of LTC’s price action suggests that breaching the $110 resistance could unleash a new bullish wave, potentially elevating prices towards the $120 to $150 range. However, increased selling pressure could send the digital coin back to its $100 support level or further down to $90.</p>
<p style="text-align: justify">Positive signs are also emerging from the Chaikin Money Flow Index, with other technical indicators also supporting a bullish forecast. The upcross of the 20 Exponential Moving Average (EMA) over the 50-EMA fuels optimism for upward price movement. Even though price volatility is present, the Relative Strength Index (RSI), currently at 61.17, indicates a balanced market climate.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/litecoin-ascends-above-100-as-market-cap-shines" rel="noopener noreferrer nofollow">Litecoin Ascends Above $100 as Market Cap Shines</a></h5>

Litecoin Ascends Above $100 as Market Cap Shines

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