Why is litecoin dropping

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After a quick bounce off this level, Litecoin price is hovering around $72.6 and shows promise of a quick uptrend. Investors can expect LTC to retest the $82.3 hurdle, which is key in determining the bulls’ strength.

If buyers manage to shatter through this small resistance barrier, investors can expect Litecoin to retest the $94.4 hurdle. This move would represent a 30% gain from the current position. In some cases, LTC could extend higher and tag the $100 psychological price.

LTC/USDT 1-day chart

While things are looking up for Litecoin price, a failure to move higher could allow sellers to take control. Such a development followed by a decisive daily candlestick close below $64.6 will invalidate the bullish thesis for Litecoin price by producing a lower low.

Why is litecoin dropping

One of the more notable ones, TerraUSD(USTC), which is pegged to the U.S. dollar and is therefore supposed to trade around $1, has seen its price plunge to below $0.30 per token, which is a huge red flag.

TerraUSD is an algorithmic stablecoin, meaning it is not actually backed by any real-world assets but uses complex technology, coding, and algorithms to maintain its price of around $1. TerraUSD’s sister token, Terra(LUNC), which is important for helping it maintain its peg to the dollar, has billions of reserves in Bitcoin.

“I think the market is expecting some forced selling [of Bitcoin] here on the part of Terra and the reserve,” Nic Carter, co-founder of Coin Metrics, told CNBC earlier this week. “It is a calamity but very expected.

Why is litecoin dropping today

Litecoin price higher, Davis names three:

  • The upcoming MimbleWimble (MW) upgrade, which will add privacy features to Litecoin. Davis says that there will be “a big code release” entering a review phase on March 15, and that this progress “could just be enough to give it that little bullish spark for some good old-fashioned price-mooning.”

January Progress:

Improved how we handle stealth addresses thanks to the “MingleJingle” proposal (https://t.co/m4iBLZsJg9)

Cleaned up tx history UI and other wallet improvements.

Initial code will be complete and ready for review March 15th!🚀

Details: https://t.co/MZdvpCGhrL

— @[email protected] (@DavidBurkett38) February 2, 2021

  • The upcoming Spark (FLR) token airdrop to LTC holders, which was announced by Flare Networks on January 8.

Why is litecoin dropping so much

  • Litecoin price hovers around $72.8, eyeing a quick reversion to the mean.
  • Investors can expect LTC to trigger a 30% ascent if it can mow through the $82.3 hurdle.
  • A decisive daily candlestick close below $64.6 will invalidate the bullish thesis.
  • Litecoin price shows stabilization around a weekly support level after a brutal sell-off from its all-time high in May 2021. The said barrier is likely to trigger a quick uptrend that will allow short-term traders to benefit.

    Litecoin price reveals a bullish outlook

    Litecoin price has crashed 86% from its all-time high at $413.5 to $54.4. This nasty drop comes after the LUNA-UST depeg that occurred on the first weekend of May.
    Regardless, LTC seems to have found its footing around the weekly support level at $64.6.

    Why is litecoin dropping reddit

    Litecoin has seen a big drop in price, but what has caused this negative fall? It all started after Litecoin (LTC) underwent its halving event on August 5. The event took place at a block height of 1,680,000. Unfortunately, the price of Litecoin started decreasing almost immediately.
    An LTC dust attack on Binance compounded the problem.

    What’s a dust attack?

    According to Binance Academy:

    “A dust attack refers to a relatively new kind of malicious activity where hackers and scammers try and break the privacy of [Litecoin] and cryptocurrency users by sending tiny amounts of coins to their personal wallets.

    Why is litecoin dropping right now

    Litecoin Price Prediction: Read our analysis on LTC Price Prediction.

    Latest Litecoin Price (USD):

    Litecoin Prediction 2022: LTC 2022 Performance

    • Litecoin’s market cap is down by 31.60% for the past month.
    • Since January Litecoin’s market cap has fallen down by 54.3%.

    VolumeMarket CapJuly 20th$662M$4.05BJune 1st$628M$3.61BMay 1st$592M$697BApril 1st$854M$873BMarch 1st$951M$7.81BFebruary 1st$824M$8.02BJanuary 1st$691M$10.4B

    Litecoin Price Prediction: Technicals

    The search volume of Litecoin has been down in the last 7 days.

    Why is litecoin dropping 2021

    On Monday (February 22), popular New Zealand-based crypto analyst Lark Davis (@TheCryptoLark on Twitter) told the over 218K subscribers of his YouTube channel about the technical and fundamental reasons for his bullishness on Litecoin.

    David started with technical analysis:

    We’re only looking at the kind of the higher time frame stuff since it really helps us put into focus the kind of mega breakout that is underway for Litecoin right now. We can see here on the weekly charts that Litecoin has just broken out from what is really just this incredibly big double bottom, which is a bullish chart pattern.

    Now, that double bottom was formed over the entire course of the bear market. we have now seen a successful breakout from this bullish pattern and even had… this retest of that line of resistance with the green line on the chart here.

    Why is ltc dropping

  • Pump: June 19 to June 20 – Price rises from $42.14 to $55.15
  • Dump: June 26 to July 5 – Price falls from $60 to $48.37
  • Pump: July 13 to July 20 – Price rises from $47 to $58
  • Reasons for the Pumps and Dumps

    1. The development and upgrade of the Litecoin platform with the implementation of the MWEB system which is supposed to make Litecoin transactions more secure may have pumped the price of LTC
    2. When the news of LTC losing more than $1 Billion in market cap started making the rounds, the investors started to panic and rushed to sell their tokens (Near June 14)
    3. The rise near June 20 was due to the overall rise in the cryptocurrency market when BTC rose 6% and ETH rose 11% and so on.

    Litecoin Price Prediction 2030

    LongForecast Predicts 1 Litecoin to be worth $662 by the end of 2030.

    Why is litecoin falling

    Litecoin is not having a good time, but it could turn things around. The fifth-largest cryptocurrency was ranked as having a $10.8 billion market cap on Wednesday after a price decline that started on February 26. That was also the official launch day of LitePay, a highly-anticipated payment system that’s suffered from setbacks that have irritated the community.

    As part of a wide-ranging update released Monday, LitePay claimed that its consumer debit card was still on hold due to “the negative perception and drastic actions card issuers have towards cryptocurrency companies.” The update was not warmly received by Litecoin users on Reddit, who questioned the stringent merchant registration process.

    It’s been a rough ride for Litecoin, as its price dips amid a wider sell-off in the cryptocurrency sphere, with bitcoin, Ethereum, and Ripple also seeing drops.

    Why is ltc dropping today

    Litecoin up on a launchpad for a massive price run, technically anyway…

    Little old Litecoin still around 45% under its previous all-time high, which is pretty surprising considering just how bullish the entire market is right now and that Litecoin is and basically always has been a top 10 crypto asset, remains very very popular with a strong community of people behind it. Litecoin has just seen a rejection at a very important area of historical resistance… What I would love to see right now is a pullback to the bottom green line with a price point of around $185… could be a good area for an entry for the coming moon mission… definitely an area of interest for me as a buyer looking to get a position in Litecoin.

    Anyway, if we can break that area of resiatnce, then we need to crush $420 to finally enter into price discovery for Litecoin.

    Why is grayscale litecoin dropping

  • Litecoin price shows an increase in short-term bearish momentum that has led to a 4% decline.
  • A breakdown of the immediate demand zone extending from $352.16 to $365.26 will result in a 7% drop.
  • Investors can expect buyers to scoop up LTC at a discount, catapulting it upward by 25% to $413.
  • Litecoin price shows a bearish bias that could result in a sell-off to a pivotal support barrier. A bounce from this level seems likely to push LTC to retest its recent swing high.

    Litecoin price needs to reset

    On the 4-hour chart, Litecoin has formed a lower high after setting up a swing high at $413.46 on May 10. Since then LTC has slid 14% to where it currently trades, $380.

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