{"id":27802,"date":"2022-09-02T08:36:39","date_gmt":"2022-09-02T08:36:39","guid":{"rendered":"https:\/\/egrowonline.com\/?p=27802"},"modified":"2022-09-02T08:36:39","modified_gmt":"2022-09-02T08:36:39","slug":"sol-slips-towards-multi-month-low-as-ltc-surges-on-thursday-market-updates-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=27802","title":{"rendered":"SOL Slips Towards Multi-Month Low, as LTC Surges on Thursday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"


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Solana was back in the red on Thursday, as the token fell towards a three-month low in today\u2019s session. The decline comes as cryptocurrency markets fell lower, trading down by as much as 2.39% as of writing. Litecoin was a notable exception, climbing for a second successive session.<\/strong><\/p>\n

Solana (SOL)<\/h2>\n

Solana (SOL) was down by over 5% during Thursday\u2019s session, as prices moved closer to a multi-month low.<\/p>\n

Following a high of $32.38 on Wednesday, SOL\/USD slipped to a low of $30.51 earlier in the day.<\/p>\n

This decline pushes SOL closer to its floor at $29.90, which is also its lowest level since June 18, when prices were as low as $26.90.<\/p>\n

\"Biggest<\/a>
SOL\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Last month saw solana fall rapidly, going from a peak of $48.32 on August 13, to a low of $29.91 on August 29.<\/p>\n

The bearish sentiment seems to have carried into September, with the relative strength index still in oversold territory.<\/p>\n

As of writing, the index is tracking at 33.82, which is close to a floor of 32.32. Should we see this support hit, prices will likely recapture June\u2019s low..<\/p>\n

Litecoin (LTC<\/a>)<\/h2>\n

While solana fell lower, litecoin (LTC<\/a>) was trading higher on Thursday, as the token extended recent gains.<\/p>\n

LTC<\/a>\/USD rose to a high of $56.50 earlier in today\u2019s session, moving away from Tuesday\u2019s low of $51.85, which saw the token hit a two-month bottom.<\/p>\n

Since then, prices have climbed in back-to-back sessions, with today\u2019s surge taking prices close to a key resistance point.<\/p>\n

\"Biggest<\/a>
LTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As litecoin approached its ceiling of $57.00, price uncertainty was insured, with bulls securing profits, as opposed to maintaining their positions.<\/p>\n

Due to this, LTC<\/a> is now trading at $55.40 which is over $1.00 lower than today\u2019s previous peak.<\/p>\n

A reason for this is that the RSI has collided with an obstacle, in the form of a resistance point at 47.25.<\/p>\n

Should LTC<\/a> bulls target further gains, then this hurdle must be overcome.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/p>\n

Could we see litecoin break the $57.00 ceiling this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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