SOL Slips Towards Multi-Month Low, as LTC Surges on Thursday – Market Updates Bitcoin News

Solana was back in the red on Thursday, as the token fell towards a three-month low in today’s session. It is due to lower cryptocurrency markets, with trading falling by up to 2.39% at the time of writing. Notable exception: Litecoin climbed for the second consecutive session.

Solana (SOL)

Solana (SOL) was down by over 5% during Thursday’s session, as prices moved closer to a multi-month low.

After a Wednesday high of $32.38, SOL/USD dropped to $30.51 on Wednesday.

SOL’s floor is at $29.90. This level represents a significant drop from June 18, which was when it was as low $26.90.

Biggest Movers: SOL slips towards multi-month low, as LTC surges on Thursday
SOL/USD – Daily Chart

Last month saw solana drop rapidly. It fell from an August peak of $48.32 to an August 29 low of $29.91.

With the relative strength index in bearish territory, September seems to have seen the sentiment continue.

The index currently tracks at 33.82. This is very close to the floor of 32.32. Should we see this support hit, prices will likely recapture June’s low..

Litecoin LTC

As the token has extended its recent gains, solana declined while litecoin (LTC), however, was higher trading on Thursday.

LTC/USD rose to a high of $56.50 earlier in today’s session, moving away from Tuesday’s low of $51.85, which saw the token hit a two-month bottom.

Since then, prices have climbed in back-to-back sessions, with today’s surge taking prices close to a key resistance point.

Biggest Movers: SOL slips towards multi-month low, as LTC surges on Thursday
LTC/USD – Daily Chart

The price uncertainty of litecoin was mitigated as it approached $57.00.

Due to this, LTC is now trading at $55.40 which is over $1.00 lower than today’s previous peak.

The reason is the RSI has come to a stop at 47.25.

If LTC bulls want to make further gains, this obstacle must be overthrown.

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Were we able to see litecoin surpass the $57.00 threshold this week? Please share your views with us in the comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.

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