Popular altcoin Litecoin (LTC) is showing signs of a bullish surge after struggling to maintain momentum at the beginning of 2024. Despite the decline at the start of the year, the altcoin’s price has significantly recovered, indicating a continued bullish trend in the coming weeks. This upward momentum is influenced by significant events such as Bitcoin’s (BTC) block reward halving and potential interest rate cuts that could boost Litecoin’s bullish trend.
Expectations for Litecoin in 2024
In July 2024, Litecoin’s price movement was characterized by a bullish attempt to break out of a prolonged consolidation phase. The price faced multiple rejections near the $80 level but saw strong demand at lower levels, particularly around the $60 support zone. Successfully rallying past the 200-day Exponential Moving Average (EMA) could trigger a breakout, pushing the price towards the $100 mark. Conversely, failing to surpass the 200-day EMA could lead to a sell-off, retesting the support level at $50.
Litecoin is expected to experience significant growth in 2024 due to increased adoption and network expansion. The bullish momentum supported by Bitcoin’s block reward halving could push LTC up to $187.27 by mid-year. However, a potential market rally in the second half of the year could cause the price to drop to around $113.61, with an average price forecast of $150.44.
As is known, Litecoin’s code includes a block reward halving similar to Bitcoin’s, occurring approximately every four years and reducing the block reward. The most recent block reward halving occurred in August 2023, with the next halving projected for July 2027. This process helps manage supply and can lead to price increases over time as new coin production slows.
On the other hand, various factors are expected to influence Litecoin’s price in 2024. Since Litecoin generally mirrors Bitcoin’s price trends, movements in Bitcoin are crucial. Additionally, increased adoption of Litecoin for payments, greater regulatory clarity regarding cryptocurrencies worldwide, and increased institutional investment in the crypto market are expected to benefit LTC‘s price.
Long-Term Price Predictions for Litecoin
For 2025, experts expect the Litecoin network to continue developing and securing major financial partnerships, potentially reaching a price of $217.76. However, they warn that new regulations and market crashes could lower the price to $144.11, with an average projection of $180.94.
Furthermore, from 2026 to 2030, Litecoin is expected to show steady growth. In 2026, the price is projected to range between $207.30 and $260.92, with an average of $234.11. By 2027, projections indicate a low of $232.78, an average of $283.39, and a high of $334.00. For 2028, the price is expected to range between $280.95 and $380.72, with an average of $330.84. Expectations for 2029 are a low of $379.74, an average of $412.04, and a high of $444.34. By 2030, Litecoin is predicted to reach a low of $402.23, an average of $465.40, and a high of $528.57.
