Wednesday, February 1, 2023
DLTEMPIRE
  • Home
  • News
  • Blockchain
  • Ethereum
  • BNB
  • Binance
  • Luna Crash
  • Crypto Mining
  • DeFi
  • ICO
  • Regulation
  • Top 10 coins
No Result
View All Result
  • Home
  • News
  • Blockchain
  • Ethereum
  • BNB
  • Binance
  • Luna Crash
  • Crypto Mining
  • DeFi
  • ICO
  • Regulation
  • Top 10 coins
No Result
View All Result
DLTEMPIRE
No Result
View All Result
Home Luna Crash

LTC could crash to $40 in September

Lucinda Keatinge by Lucinda Keatinge
September 1, 2022
in Luna Crash
0
LTC could crash to $40 in September
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Litecoin price was in a tight range on Thursday as investors started to reposition their assets for September. The LTC coin rose slightly to a high of $55.80, which was slightly above this week’s low of $52.36. Its market cap stands at over $3.2 billion.

Hawkish Federal Reserve

Litecoin price has been under pressure as investors focus on the hawkish tone by the Federal Reserve. In a statement at the Jackson Hole Symposium at Wyoming, Jerome Powell insisted that the bank will continue hiking interest rates in the coming months.

His sentiment was shared by other Federal Reserve officials like Charles Evans and Neel Kashkari. In a statement on Wednesday this week, Cleveland Fed’s Loretta Mester said that the bank will continue hiking and also maintain high interest rates until inflation moves to 2%.

Historically, cryptocurrencies like Bitcoin and LTC tends to underperform in periods of a hawkish Federal Reserve. This also explains why cryptocurrencies and stocks have continued their bearish trend in the past few months. Indeed. American stocks have fallen in the past five straight days.

Litecoin price has also underperformed because of the sluggish demand for the coin. With cryptocurrencies down by more than 50% this year, many users of LTC have stayed away. This is evidenced by on-chain data that show weak demand in the ecosystem.

Meanwhile, the coin has lagged because of the significantly strong US dollar. The US dollar index has jumped to the highest level in over 20 years. Litecoin and other cryptocurrencies have an inverse correlation with the US dollar.

Litecoin price prediction

The daily chart shows that the LTC price has been under pressure in the past few months. It has fallen by 86% from the highest level in 2021. A closer look shows that the coin has formed a bearish flag pattern, which is usually a bearish sign. 

It has moved below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the neutral point at 50. Therefore, there is a likelihood that the coin will have a bearish breakout in September. If this happens, the next key support level to watch will be at $40.



Source link

Tags: crashLTCSeptember
Previous Post

BudBlockz (BLUNT), Ethereum (ETH), Binance (BNB), Flux & Bitcoin (BTC) By DailyCoin

Next Post

Exclusive: U.S. sought records on Binance CEO for crypto money laundering probe

Lucinda Keatinge

Lucinda Keatinge

Next Post
Exclusive: U.S. sought records on Binance CEO for crypto money laundering probe

Exclusive: U.S. sought records on Binance CEO for crypto money laundering probe

  • Trending
  • Comments
  • Latest
Veteran pilot killed in vintage airplane crash in Kern County

Veteran pilot killed in vintage airplane crash in Kern County

September 3, 2022
Wells Fargo Mentioned Ripple (XRP) As A Digital Currency In August Report

Wells Fargo Mentioned Ripple (XRP) As A Digital Currency In August Report

August 16, 2022
Sold Out Presale Creating Huge Interest In Gnox (GNOX) From Binance Coin (BNB) And PancakeSwap (CAKE) Holders

Sold Out Presale Creating Huge Interest In Gnox (GNOX) From Binance Coin (BNB) And PancakeSwap (CAKE) Holders

August 16, 2022
Best Coins To Buy On PancakeSwap App In August 2022

Best Coins To Buy On PancakeSwap App In August 2022

August 12, 2022
How the Stance of World’s Top Crypto Exchange Could Impact Possibility of Future Ethereum Forks

How the Stance of World’s Top Crypto Exchange Could Impact Possibility of Future Ethereum Forks

0
Binance, Mastercard launch prepaid card in Argentina to bridge cryptocurrencies, everyday purchases

Binance, Mastercard launch prepaid card in Argentina to bridge cryptocurrencies, everyday purchases

0
What is Alpaca Finance? – Asia Crypto Today

What is Alpaca Finance? – Asia Crypto Today

0
Blockchain ETF’s Top Holding Has Been a Strong Outperformer

Blockchain ETF’s Top Holding Has Been a Strong Outperformer

0
A New digital currency that enables Private Permissionless Payments on Blockchain

A New digital currency that enables Private Permissionless Payments on Blockchain

February 1, 2023
Provident in Massachusetts pushing past crypto woes

Provident in Massachusetts pushing past crypto woes

February 1, 2023
Bitcoin, Ethereum, and Equity Markets Drop as Fed Likely to Hike … – The Coin Republic

Bitcoin, Ethereum, and Equity Markets Drop as Fed Likely to Hike … – The Coin Republic

February 1, 2023
BNB Bowl 2023 lineup (Pain of Truth, Death Threat, Bulldoze, Merauder, End It, All Out War & more)

BNB Bowl 2023 lineup (Pain of Truth, Death Threat, Bulldoze, Merauder, End It, All Out War & more)

February 1, 2023

Recent News

A New digital currency that enables Private Permissionless Payments on Blockchain

A New digital currency that enables Private Permissionless Payments on Blockchain

February 1, 2023
Provident in Massachusetts pushing past crypto woes

Provident in Massachusetts pushing past crypto woes

February 1, 2023
Bitcoin, Ethereum, and Equity Markets Drop as Fed Likely to Hike … – The Coin Republic

Bitcoin, Ethereum, and Equity Markets Drop as Fed Likely to Hike … – The Coin Republic

February 1, 2023
BNB Bowl 2023 lineup (Pain of Truth, Death Threat, Bulldoze, Merauder, End It, All Out War & more)

BNB Bowl 2023 lineup (Pain of Truth, Death Threat, Bulldoze, Merauder, End It, All Out War & more)

February 1, 2023

Recent News

A New digital currency that enables Private Permissionless Payments on Blockchain

A New digital currency that enables Private Permissionless Payments on Blockchain

February 1, 2023
Provident in Massachusetts pushing past crypto woes

Provident in Massachusetts pushing past crypto woes

February 1, 2023

Categories

  • Altcoin
  • Artificial Intelligence
  • Binance
  • Blockchain
  • BNB
  • Business
  • Crypto Mining
  • DeFi
  • Education
  • Ethereum
  • Featured
  • ICO
  • Luna Crash
  • Metaverse
  • News
  • Regulation
  • Top 10 coins
  • Uncategorized

Follow Us

Follow Us

Find Via Tags

Big Binance Bitcoin Blockchain BNB BTC Buy Cardano CEO Chain Coin CoinDesk Coins crash Crypto Cryptocurrency DeFi Digital Dogecoin ETH Ethereum Exchange eyes Finance FTX Heres Investors latest LUNA Market Merge Million mining Network News NFT Prediction Price Protocol Regulation Solana Token Top Tweet Week

© 2021 Dltempire

No Result
View All Result
  • Home
  • News
  • Blockchain
  • Ethereum
  • BNB
  • Binance
  • Luna Crash
  • Crypto Mining
  • DeFi
  • ICO
  • Regulation
  • Top 10 coins

© 2021 Dltempire