Once included in the top ten crypto currencies in terms of market value Litecoin (LTC) has experienced very serious declines in its ranking since the market’s decline in May. The fact that investors turned to better-performing altcoins and there was little institutional investor interest hurt LTC’s price rises.
September Was Negative for the Market
Although the market gave some bullish signals in a short period in early September, sellers felt its weight again within a short period of time. Litecoin was now in a subchannel and was waiting for a strong level of support to start a recovery. But blocking sellers was not an easy task.
Walmart News Rattles the Market
Litecoin started September with positive price movements. Walmart’s online payments LTC speculation that he would accept led to the fact that the crypto asset recorded an upward price movement of about 45% from the price level at which it was located. This price movement also pushed LTC to a price level of $ 232, which is the highest level in the last four months. Immediately after the rise, Walmart denied the allegations. After Walmart’s announcement, Litecoin fell sharply to $163 price levels. With this price movement, LTC fell below a significant support level.
Since these volatility-high price movements that have taken place in opposite directions in a row, Litecoin has not been able to record any drastic price movements other than low rates and rises. Although it is currently testing a top trend line LTC, unable to provide strong signals for upward price movements.
The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.