Solana was again in red on Thursday as the token fell to a three-month low during today's session. This decline is due to cryptocurrency markets falling lower, with trading down as high as 2.39% at the time of writing. Litecoin, however, was an exception that rose for the second consecutive session.
Solana (SOL)
Solana (SOL), which was down more than 5% during Thursday's session as prices moved closer towards a multi-month low, was lower.
After a Wednesday high of $32.38, SOL/USD dropped to $30.51 on Wednesday.
This decrease pushes SOL closer towards its floor at $29.90. It is also the lowest level since June 18, 2006, when prices were as low a $26.90.
Last month saw solana drop rapidly. It fell from $48.32 at its peak on August 13 to $29.91 at its lowest on August 29.
The bearish sentiment appears to have continued into September with the relative strength indicator still in oversold territory.
The index is currently tracking at 33.82. This is very close to the floor of 32.32. If this support is reached, prices could retrace June's low.
Litecoin (LTC).
Solana dropped lower while litecoin (LTC), which has extended its recent gains, traded higher on Thursday.
LTC/USD rose to $56.50 earlier today, moving away Tuesday's low at $51.85, when the token reached a two-month low.
Prices have risen in back-toback sessions since then. Today's surge brings prices within striking distance of a key resistance level.
Price uncertainty was mitigated as litecoin neared its ceiling at $57.00. Bulls secured profits and did not have to maintain their positions.
LTC now trades at $55.40, which is $1.00 less than its previous peak.
This is because the RSI collided with an obstruction, in the form a resistance point located at 47.25.
This hurdle must be overcome if LTC bulls are aiming for further gains.
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Could litecoin surpass the $57.00 ceiling in this week's trading? We'd love to hear your comments.
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By: Eliman Dambell
Title: Biggest Movers: SOL Slips Towards Multi-Month Low, as LTC Surges on Thursday
Sourced From: news.bitcoin.com/biggest-movers-sol-slips-towards-multi-month-low-as-ltc-surges-on-thursday/
Published Date: Thu, 01 Sep 2022 17:30:49 +0000
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