Litecoin’s correction started a week earlier than the crypto market’s, driven by its overbought RSI and a drying buying sentiment in the days leading up to its “halving” on August 2nd. LTC price has dropped over 30% since the day its RSI crossed the overbought threshold reading of 70. What do you think the price of litecoin will drop more?
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Yes, potentially it looks like that It will be dropping by some more dollars. Future predictions also suggest the same. But in the long run investors do trust litecoin to come back stronger than ever.
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Ya it may become stronger in future than before.
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Most probably due to market’s bear phase litecoin is also experiencing an overall downfall.
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Not this investor, stick with ETH and BTC. USE LTC for payments, it’s great for that. It is not for store of value and holding your vast crypto fortune.
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It should be done from the new and professional ecosystem in the future update of Litecoin, smart contracts,Decentralized DeFi financial platforms Attracting developers will make this currency grow and become a serious competitor for Ethereum
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Ethereum is insecure IMHO, they’ve had blockchain rollbacks, lets not do that.
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Litecoin was performing very well once it was launched. Still, One of the main reasons why Litecoin’s value is currently dropping because the overall market sentiment toward cryptocurrencies. In recent months and years, there has been a lot of negative news and speculation surrounding the crypto market, which has led to a sell-off of many digital cryptocurrencies like Litecoin, causing their prices to decrease significantly.
Another factor that may be contributing to the fall of Litecoin is the increased competition from other cryptocurrencies. With new coins like altcoins and meme coins entering the market constantly, investors have more options to choose from, which can lead to a decrease in demand for established coins like Ethereum and Litecoin. This increased competition can put pressure on the prices of these coins, causing them to drop in value.
But as you know crypto market is a volatile market any cryptocurrency can gain price, I would advise to use crypto news apps like [Cryptoreach]. to stay updated with cryptocurrency price and analyse the market easily.