Litecoin’s bullish momentum has cooled off, with the price sliding back to $97.8 after struggling to sustain its recent uptrend. The pullback comes amid increasing selling pressure, raising concerns about whether this is a temporary correction or the start of a deeper decline. While LTC previously showed strength, the inability to maintain higher levels suggests that market sentiment is shifting, leaving traders questioning the coin’s next move.

As the price approaches key support levels, traders are closely monitoring market signals to determine the next move. Will buyers step in to defend LTC and spark a rebound, or will bearish pressure push the price even lower?

Litecoin Drop To $97.8: What Triggered The Pullback?

Litecoin’s retreat to $97.8 comes after failing to sustain its recent uptrend, as increasing selling pressure drove the price lower. After an initial push higher, LTC encountered strong resistance at the $113 key level, preventing further gains and triggering a pullback. This resistance rejection prompted profit-taking among traders, as many opted to secure gains rather than hold through potential volatility.

Moreover, the decline in buying momentum played a crucial role in the price drop. As bullish enthusiasm faded, buyers struggled to maintain control, allowing sellers to take over. The weakening demand led to increased downward pressure, accelerating Litecoin’s descent toward the $97.8 support level.

Broader market uncertainty also contributed to the downturn. A combination of external factors, including macroeconomic conditions and Bitcoin’s price action, likely influenced traders’ risk appetite, leading to a cautious approach toward altcoins like LTC.

Technical indicators also experienced a drop below average, prompting a correction as traders reassessed their positions. If Litecoin fails to hold above $97.8, further downside could be expected. However, a possible recovery may be on the horizon if buyers step in at this level.

Potential Scenarios: Rebound Or Further Decline?

The Litecoin price movement around the $97.8 level will be crucial in determining its next direction. Two possible scenarios could unfold—a strong rebound if buyers regain control or a deeper decline if selling pressure persists.

In a bullish scenario where LTC manages to hold above $97.8, buyers could step in, driving the price toward immediate resistance levels. A successful rebound might push Litecoin back above $113, with the next target being $131.6. After this, bullish momentum may grow, paving the way for a rally to $146.

However, in a bearish scenario where Litecoin fails to hold above $97.8, the price could face additional downside pressure. Breaking below this key support hints at a decline toward $89.7 and $76.8, and even lower support zones, making it critical for bulls to defend key levels.

Nasdaq Inc. announced on March 7 that it’s seeking regulators’ permission to expand trading hours on the Nasdaq Stock Market, the world’s biggest stock exchange. The exchange wants to launch 24-hour trading Monday through Friday.

The stock exchange plans to submit filings seeking approval from regulators on Friday, according to a source familiar with Nasdaq’s plans. They require the Securities and Exchange Commission to sign off before moving ahead with the plan.

Nasdaq wants to offer 24-hour trading on its stock exchange

🚨🇺🇸NASDAQ PLANS 24-HOUR TRADING LAUNCH IN 2026 TO TRANSFORM GLOBAL MARKETS

NASDAQ announced today a bold move to offer round-the-clock trading on its equities platform starting mid-2026, pending SEC approval, expanding beyond its current 9:30 AM-4:00 PM ET hours to meet global… https://t.co/pLL2n7RtUe pic.twitter.com/cQnVj8tlQQ

— Mario Nawfal (@MarioNawfal) March 7, 2025

Nasdaq revealed its ambitious plan never done by a major U.S. exchange operator to introduce stock trading around the clock. The firm is asking regulators to allow it to offer 24-hour stock trading Monday through Friday.

In a blog post published today, Nasdaq President Tal Cohen said that his company could soon offer trading 24 hours a day on its main stock exchange, the Nasdaq Stock Market.

“We are excited to share that Nasdaq has begun engaging with regulators, market participants and other key stakeholders, with a view to enabling 24-hour trading five days a week on the Nasdaq Stock Market.”

–Tal Cohen, President of Nasdaq Inc.

Cohen said that the firm’s timeline was pending regulatory approval and alignment with critical industry infrastructure providers. He also anticipates that the approval will be in the second half of 2026.

The company’s President acknowledged that expanding trading hours could present a challenge for the financial services industry. He argued that issues related to risk management, trade surveillance, and ensuring ample liquidity must be addressed. Cohen said he was not certain that the stock exchange would have secured approval from regulators as of Friday.

Brian Hyndman, Blue Ocean Technologies LLC’s chief executive and president, iterated that he wasn’t surprised Nasdaq was getting into 24-hour trading, “I’m surprised they’re doing it so late.” Hyndman also noted that trading volumes in extended trading hours had also grown.

A recent NYSE study found that the average daily volume of off-hour trading had increased from around 700 million shares in 2021 to more than 1.7 billion shares as of January 2025. He believes that the number will continue to grow into the tens of billions over the next few years, especially if more exchanges enable 24-hour trading.

Nasdaq joins other stock exchanges to offer extended trading periods

The exchange followed the New York Stock Exchange (NYSE) to make plans to expand trading in the overnight session, which stretches from 8 p.m. to 4 a.m. Eastern time.

NYSE, owned by Intercontinental Exchange Inc. (ICE), announced plans in October to allow customers to trade 22 hours a day on its electronic Arca exchange, from 1:30 a.m. to 11:30 p.m. Eastern. The stock exchange received approval from the SEC in February that could allow it to move forward.

Chief product officer at NYSE Jon Herrick highlighted that the exchange was awaiting approval from the securities information processor (SIP) committee before moving forward. The committee includes exchange groups, FINRA and industry advisors, who govern the data feeds used to process and consolidate bid-ask quotes. 

The firm’s official expects Arca to begin offering 22-hour trading sometime this year. Herrick argued that the exchanges still needed to take at least a one-hour break once a day to clear trades and perform system maintenance.  

The U.S. market has had normal trading hours set at 9:30 a.m. to 4 p.m. Eastern, Monday through Friday, since 1985. The stock exchanges have maintained that time since the New York Stock Exchange shifted the opening bell a half-hour earlier from 10 a.m. Over the years, U.S. exchanges have also offered premarket and aftermarket trading. 

The exchanges start their premarket session at 4 a.m. Eastern, which runs through the opening bell, while they begin the aftermarket session at the closing bell, which lasts until 8 p.m.

The Depository Trust & Clearing Corp. also expanded its clearing services hours to 1:30 a.m. Eastern back in September. The firm said it can now clear trades during the entirety of the 22-hour day envisioned by NYSE. Val Wotton, a managing director at DTCC, revealed that the company was actively discussing the further extension of National Securities Clearing Corp.’s hours with its members.

Some electronic brokerages have also been pushing the stock exchange space to allow customers to trade certain products around the clock. Companies, including Robinhood Markets Inc., Charles Schwab Corp., and Interactive Brokers Group, are offering extended and overnight trading hours for some stocks and ETFs.

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